DX to open new hub amid "better than expected volumes and improving margins"

DX (Group) said trading for the first half of the new financial year remained ahead of expectations and ahead of the same period in 2019, with plans for another depot to open shortly.

The parcel freight and courier company said the group was in a strong financial position, with “high levels of liquidity” and there was no sign of any adverse impact from the second national coronavirus lockdown.

In a statement, the company said: “Net new business across both divisions to date is encouraging and the new business pipeline remains very healthy.

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“While it is still relatively early in the financial year, with volumes better than expected and margins improving in DX Freight, we now anticipate that DX is on track to perform materially better than current market expectations.”

The company recently opened three new depots in Burnley, Westbury and Oxford, to service its freight division, which specialises in the B2B and B2C delivery of items of irregular dimensions and weight, and it said two service centres and a fourth depot are planned for the remainder of the current financial year.

“Investment in operational parcel handling equipment and IT systems continues as part of the £10m investment programme that commenced last year,” it added.