2022 Highlights
Financial highlights
Revenue£428.2m(2021: £382.1m) |
Profit from Operating Activities£22.1m(2021: £15.1m) |
Adjusted PBT£20.2m(2021: £12.0m) |
Reported PBT£17.4m(2021: £10.6m) |
Adjusted EPS2.9p(2021: 2.0p) |
Reported EPS2.4p(2021: 2.7p) |
Net cash£27.0m(2021: £16.8m) |
Net cash generated from Operating Activities£36.5m(2021: £28.1m)
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Operational highlights
- >DX Freight
- o Revenue up 15% to £256.9m (2021: £223.0m) and operating profit up 36% to £31.1m (2021: £22.9m)
- o Divisional operating margin up to 12.1% (2021: 10.3%), driven by further improvements in productivity and operational efficiency
- o Continued focus on high levels of customer service led to a significant number of new customer wins and supported customer retention levels
- >DX Express
- o Revenue up 8% to £171.3m (2021: £159.1m) and operating profit up 17% to £14.5m (2021: £12.4m)
- o Divisional operating margin increased to 8.4% (2021: 7.8%), driven by growth in Parcels volume outweighing decline in Document Exchange
- o The separation of the Document Exchange delivery network from the Parcels network enhanced service levels and increased capacity in the Parcels operation
- o Launch of the Document Exchange Portal was well received by its members
- > Overheads
- o Overheads decreased as a percentage of revenue to 5.1% (2021: 5.3%), excluding the exceptional items
- o Including £1.6m of exceptional items, overheads increased to £23.5m (2021: £20.2m)