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Logistics services provider DX reported swung to an annual profit, led by 'very strong' performance at its freight division amid higher delivery volumes.
For the 53 weeks to 3 July 2021, pre-tax profit was £10.6 million compared with a £1.34 loss a year earlier as revenue jumped 16% to £382.1 million.
Revenue growth was 'primarily driven by very strong performance at DX freight,' which reported growth of 32% and saw margin increase to 10.3% from -0.4%.
'Despite the ongoing challenges, including driver shortages and global supply chain disruptions, we remain confident of further progress over the new financial year,' the company said.
'We have now launched a second major capital investment programme of between £20m-£25m to be invested over the next three years to support our growth plans.'