DX, which listed on AIM in February, has said that the focus for the next three years will be the turnaround of the former Nightfreight business, which is now called DX Freight.
The move to one, unified, network infrastructure – incorporating both DX and former Nightfreight business – is being conducted under the banner of OneDX. To date it has seen the closure of 12 sites (DX runs out of some 70 service centres) and the opening of three new co-located sites.
DX Express, its mail and packets operations, and DX Freight, its parcels and freight operations, are already running out of the same sites in Exeter, Plymouth, Northampton and Heathrow.
Chief executive Peter Cvetkovic said: “Over the next three years, our main focus continues to be on the turnaround of DX Freight, the underperforming delivery business we acquired in 2012.
“Hand in hand with this, we are streamlining and developing DX's distribution network. Our goal is to create a OneDX culture and service offering, underpinned by enhanced technology and unified systems. This transition puts us in a better position both to grow profitably and to provide customers with the outstanding service delivery that we are constantly striving for.”
In its first complete year of results to incorporate its acquisition of Nightfreight in 2012 turnover rose to £304.2m, from £292.5m. The company also went into the black turning a pre-tax profit of £7.2m in the year-ending 30 June, compared to a pre-tax loss of £1.9m in the previous year.
In December it sold the trade and assets of the DX Business Direct, its overnight parts distribution service, to ByBox for £5.5m.
"Our recapitalisation and admission to AIM in February has marked an important point in DX's development,” said Cvetkovic. “We are now very well placed financially and operationally to pursue our long term growth strategy, underpinned by a strong balance sheet and good cash flows.”
The company is also updating the DX Frieght fleet, rolling out a new livery across its 730 vehicles and 554 trailers. So far 180 vehicles and 166 trailers carry the livery.
