TURNOVER SURGES TOWARDS £ 1BN AT PARCEL DELIVERY GIANT

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Turnover surged towards the £1bn mark at Queen's Award-winning parcel delivery giant DPD during its most recent financial year, newly published results have revealed.

The business, which headquartered in Smethwick on the edge of Birmingham, achieved a turnover of £972.8m for the year to 30 December 2018, up from £894.7m in 2017.

The documents for DPD Group UK also show that its pre-tax profits went from £143.8m to £142.4m over the same period.

DPD operates from more than 40 locations across the UK and employs almost 2,000 staff

The company's £100m hub in Hinckley, Leicestershire, is fully operational while in June 2018 DPD relocated its Nottingham depot to a new 60,000 sq ft distribution centre, creating up to 209 new jobs.

Plans for a major distribution centre in the Black Country were also approved in November 2018.

A statement signed off by the board said: "The company has continued to develop its businesses and the directors are satisfied with the operating results.

"The company has made plans to continue to grow market share and has put in place strategies and investment programmes to achieve this objective.

"The board believes that the company is well placed to deliver further growth of revenue and profit from both core products and from further value-added services.

"The company ended the year in a very strong financial position and the board believe that this position, coupled with the strength of its parent La Poste puts it in a market leading position for future development."

The company started life in 1970 as Courier Express and was renamed Parceline in 1984 when it was acquired by Mayne Nickless of Australia.

It is now owned by French postal service La Poste, which bought the company in 2000, and in 2008 its name was changed to DPD.

DPD won a Queen's Award for Enterprise in the innovation category in 2015.

In June 2019 the company completed a deal to move into a new warehouse in Sandwell.