DX Group reports strong business
Deliveries group DX, which has sites in Willenhall and Tipton, says it has secured strong levels of new business in the first quarter of its fiscal year.
DX, a leading provider of delivery solutions, including parcel freight, secure, courier, 2-Man and logistics services, held its AGM today.
And chairman, Mark Hammond, said: "When the Group reported its final results, it secured strong levels of new business in the first quarter of the new financial year and has a good pipeline of further opportunities.
"Overall trading since then has continued to be in line with management expectations.
"In addition, DX has made very good progress operationally with its investment plans, including a significant number of new site openings, in line with its strategic objectives.
“While the current economic headwinds point to some softening of consumer-orientated volumes, the Board continues to remain encouraged about growth prospects, supported by its consistent high service level offering and the commercial opportunities available.”
Last week it was revealed DX is being taken over by a private equity investment firm.
The board of DX has agreed to the acquisition by a subsidiary of funds advised or managed by HIG Capital of the entire share capital.
DX shareholders will receive 48.5p per share which values DX at £314.8 million.