(Alliance News) - DX Group PLC said on Monday it is to invest in upgrading its depot network, as part of its wider growth plans to increase capacity, productivity and efficiency.
The Slough, Berkshire-based delivery solutions provider said it will invest GBP3.6 million in upgrading its depot network.
DX opened eight new depots in the financial year that ended July 2 and expects to open a further eight by July 2023.
It is currently in the second year of its three-year GBP20 million to GBP25 million investment plans, which involves expanding the depot network, vehicles, parcel handling equipment and IT.
Upgrades are underway or were completed at depots in Exeter, Middlesbrough, Northampton, Plymouth and Thatcham for the DX freight division, which specialises in delivering irregular dimension and weight items. In the DX express division - handling documents and parcels - significant upgrades were also seen at Gatwick and at the national hub in Nuneaton, including additional mechanisation and environmental initiatives.
"We have ambitious growth plans and the significant investment we are making in our depot network - both in new and existing sites - will underpin continued growth and improvements to customer service and operational efficiencies," said Executive Chair Mark Hammond.
Shares in DX were down 3.3% to 25.63 pence in London on Monday afternoon.
By Greg Rosenvinge; gregrosenvinge@alliancenews.com
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