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2021 Highlights

Financial highlights

Revenue

£382.1m

(2020: £329.3m)

Profit from Operating Activities

£15.1

(2020: £3.0m)

Adjusted PBT

£12.0m

(2020: £(0.2)m)

Reported PBT

£10.6m

(2020: £(1.3)m)

Adjusted EPS/(LPS)

2.0p

(2020: (0.1)p)

Reported EPS/(LPS)

2.7p

(2020: (0.3)p)

Net cash/(debt)


£16.8m

(2020: £12.3m)

Net cash generated from Operating Activities

£28.1m

(2020: £33.5m)

 

Operational highlights

  • >DX Freight
  • o revenue up by 32% to £223.0 million (2020: £169.0 million)
  • o operating profit for the year increased by £23.5 million to £22.9 million (2020: loss of £0.6 million), benefiting from increased volumes, and productivity and efficiency improvements
  • o operating margins recovered to 10.3% (2020: (0.4)%)
  • o 46% revenue growth at our 1-Man service and our continued focus on customer service levels, which helped to support new customer wins and customer retention
  • >DX Express
  • o strong new business in Parcels meant that revenue was down only 1% at £159.1 million (2020: £160.3 million)
  • o division adversely affected by the impact of the coronavirus pandemic and the second national lockdown
  • o operating profit decreased to £12.4 million (2020: £22.9 million)
  • o strategic step taken during the year of separating the DX Exchange delivery network from the Parcels network
  • > Focus on rebuilding profitability through volume growth and margin expansion
  • > Recovery of adjusted operating profit margin1 to 4.4% against long-term target range of 7.5-10%
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