DX (Group) PLC Trading Update (9550U)
18 July 2018 - 4:00PM
UK Regulatory
TIDMDX.
RNS Number : 9550U
DX (Group) PLC
18 July 2018
18 July 2018
AIM: DX.
DX (Group) plc
("DX" or "the Group")
Trading Update
DX, the provider of delivery solutions, including parcel
freight, secure, courier and logistics services, announces the
following update on trading for the financial year ended 30 June
2018 ("FY2018").
The Board is pleased to report that the Group's turnaround,
which commenced at the start of 2018, is progressing steadily, and
that both the DX Freight and DX Express divisions have delivered in
line with management expectations in the second half. The Directors
therefore expect the Group to meet market expectations for FY2018,
which includes an underlying loss for the year. Net debt at 30 June
2018 is expected to be approximately GBP1.1m (30 June 2017:
GBP19.1m), which is better than previously anticipated, and
reflects improved working capital management.
As planned, turnaround initiatives in the period have been more
focused on DX Freight, and net new business at DX Freight, which
includes the Group's irregular dimensions and weight ("IDW") and
logistics activities, has been encouraging and continues to gather
momentum.
DX Express, which includes DX Exchange, Secure and Courier
services, continues to develop its plan to separate DX Exchange
from the Secure and Courier operations. In addition, the Group has
enhanced the senior management capability within DX Exchange and
strengthened the DX Express sales team.
The Board believes that the Group remains well positioned to
make further progress against its Turnaround Plans as previously
announced on 29 March 2018, and will provide a further update on
trading with the announcement of full year results, expected in
early October 2018.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014. Upon the publication of this
announcement via regulatory news service this inside information is
now considered to be in the public domain.
Enquiries:
DX (Group) plc
www.dxdelivery.com
Ronald Series, Executive Chairman T: 020 3178 6378
Lloyd Dunn, Chief Executive Officer (c/o KTZ Communications)
David Mulligan, Chief Financial Officer
finnCap (Nominated Advisor and Broker) T: 020 7220 0500
Matt Goode/Simon Hicks/Hannah Boros (Corporate
Finance)
Andrew Burdis/Camille Gochez (ECM)
KTZ Communications T: 020 3178 6378
Katie Tzouliadis/ Emma Pearson
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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