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2022 Highlights

Financial highlights



(2021: £382.1m)

Profit from Operating Activities


(2021: £15.1m)

Adjusted PBT


(2021: £12.0m)

Reported PBT


(2021: £10.6m)

Adjusted EPS


(2021: 2.0p)

Reported EPS


(2021: 2.7p)

Net cash


(2021: £16.8m)

Net cash generated from Operating Activities


(2021: £28.1m)


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)