(Alliance News) - DX Group PLC on Monday announced it is resuming paying dividends as half-year profit surged.
The Slough, England-based logistics company said profit in the six months to December 31 surged to GBP9.1 million from GBP3.3 million a year prior. Revenue grew 15% to GBP231.3 million from GBP202.0 million.
The company declared a dividend of 0.5 pence per share after six years of paying no dividend. The last dividend was 1.0p per share for the first half of financial year 2016. Chief Executive Officer Paul Ibbetson said the resumption of payouts "reflects the success of our turnaround and growth plans, which commenced in 2018, as well as our confidence in the group's future prospects."
Looking ahead, DX said it is well-positioned to meet its targets for the financial year despite economic headwinds.
DX shares were 2.3% higher at 28.90 pence each in London on Monday afternoon.
By Tom Budszus, Alliance News reporter
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