DX (Group) PLC Trading update (8218B)
04 February 2020 - 6:00PM
UK Regulatory
TIDMDX.
RNS Number : 8218B
DX (Group) PLC
04 February 2020
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, is pleased to
provide an update on trading for the first half of its current
financial year ending 30 June 2020.
Trading over the first six months of the financial year has been
encouraging, with DX's performance benefiting from improved service
levels and increased new business. First half results are therefore
expected to show a material improvement on the same period last
year, principally led by the ongoing turnaround of the DX Freight
division. The Board expects further progress in the second half,
historically the Group's stronger trading period, and believes that
DX remains on track to achieve current market expectations* for the
financial year.
As part of the Group's GBP10m capital investment programme over
FY 2020 and 2021, DX Freight opened a new depot at Ipswich in the
period, and additional depots are expected to be opened over the
calendar year. Together with the installation of new mechanisation
at the central hub, this will help increase capacity and
productivity. DX Express successfully completed a pilot of its new
handheld devices and has started to rollout the new technology
across all its service centres, with completion targeted for April
2020.
The Board expects to report interim results in early March 2020
and will provide a further update on trading at that time.
* Market expectations mean the current forecasts from finnCap.
Links to these forecasts are available in the investor section of
the DX website by following the link below:
https://investors.dxdelivery.com/websites/dxgroup/English/5050/broker-notes.html
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
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/ Dan Mahoney
About DX (Group) plc:
DX is a well-established provider of a wide range of delivery
services to both business and residential addresses across the UK
and Ireland. First established in 1975 as a Document Exchange
service to the legal sector, DX now provides one of the widest
ranges of overnight delivery services in the market, as well as
logistics services. Items that DX transports range from
confidential documents and valuable packages to large,
awkward-to-handle freight, unsuitable for standard conveyors.
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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