DX..L Share News (DX.)

(Sharecast News) - Courier and logistics company DX announced the opening of a new depot in Burnley on Wednesday, as part of its expansion plans.
The AIM-traded firm said the Burnley depot was the fourth opening this year for the freight division, which specialises in business-to-business and business-to-consumer delivery of irregular dimension and weight freight, following openings in Ipswich, Oxford and Westbury.

It said the 21,000 square foot depot at Altham Industrial Estate, Accrington, increased the division's footprint in the north west, providing additional capacity for further growth.

The new depot would also allow DX to enhance service levels to existing customers in the region and provide "more localised" customer service.

In the last year, revenues at DX Freight grew 7% to around £170m, with the board stating its intention to "significantly increase" the division's market share in irregular dimension and weight freight.

About £4m further investment in the division was planned over the next 12 months in technology, equipment and fleet, with additional new depot openings for both the freight and express divisions scheduled in the new year.

"This new depot in Burnley significantly increases our presence in the north west region, and allows us to further enhance service levels to existing customers," said DX Freight managing director Paul Ibbetson.

"Further depot openings are planned during 2021 as we push forward with growth plans for the freight division."

Lloyd Dunn, chief executive officer of DX Group, added that the freight division had undergone a "remarkable transformation" in the last three years.

"This latest depot opening is a sign of the confidence we have in the division and we are backing its growth with further investment," Dunn said.

At 1414 BST, shares in DX Group were flat at 18.5p.