DX expects to return to the black as sales grow 8%
Delivery group DX said it expected to return to the black amid an eight per cent rise in sales.
The group, which has two sites in Willenhall employing around 500 people, saw revenue rise to £322.5 million for the year ending June 30, up from, £299.5 million the year before.
In a trading update, the firm, which offers parcel freight, secure, courier and logistics services, said net debt at the year-end is expected to be significantly better than forecast at about £1.3 million.
This is after a £3.3 million capital investment in the business and reflects improved working capital management, it said.
Both DX Freight and DX Express contributed to the improvement. DX Freight, which includes the group's irregular dimensions and weight and logistics activities, benefitted from significant improvements in operational efficiency and customer service. It continues to secure healthy levels of new business, which is improving the utilisation of the existing capacity in its network.
The group is well-positioned to make further progress in the new financial year, it added.
Full year results are expected to be announced on September 24.