DPD Group saw a slight reduction in revenues last year, amid the cost of living crisis and soaring inflation.

The parcel company reported a turnover of £1.5bn in the year ending 31 December 2023, 1.3% less than in 2022.

Pre-tax profit reduced by 12.3% to £263m during the period.

In a business review, DPD said it had a successful year, delivering strong revenues and volumes and maintaining profits and service levels.

“The company’s performance was achieved against the backdrop of the cost of living crisis, which affected customer demand for both domestic and international services and placed inflationary pressure upon both employee and supplier costs,” it said.

“Although the UK market is highly competitive, the company continued to invest in infrastructure and personnel to ensure it remains the leading sustainable parcel delivery company in the UK.”

DPD said the largest share of its revenues was derived from next-day parcels and it also grew revenue in its premium and specialist services too.

It has recently been investing in and trialling deliveries made by robots and last month the company confirmed it would launch autonomous robot deliveries in Lincoln as part of a nationwide roll-out that could see up to 30 UK depots operating them in their locality.

DPD added that it expects revenues this year to surpass the levels achieved in 2023.

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