DX unveils turnaround plan

The new leadership team, led by industry veterans Ron Series as chairman and Lloyd Dunn as CEO, were appointed in October and have since embarked on a wide-ranging restructure of the Company’s operations. 

Key to their turnaround strategy is placing depots and service centres at the heart of DX, giving greater operational responsibilities and authority to general and regional managers. The new capital raised will be invested in the business, including expanding the sales teams, adding new depots, enhancing the Group’s IT capabilities, and developing the networks.

Lloyd Dunn, CEO at DX, said: “Key to the early success of our plan has been devolving accountability to depot general managers and regional directors, who are being given greater operational responsibilities and authority. This is driving the business supported by the creation of a commercial function, improving the quality of the contracts we win and manage.”

DX announced revenue of £146.6m for 2017 (2016: £142.7m), with a loss before tax and exceptional items of £9m (2016: loss of £0.5m).