DX (Group) PLC Trading Update (4487Y)
13 Mayo 2021 - 1:00AM
UK Regulatory
TIDMDX.
RNS Number : 4487Y
DX (Group) PLC
13 May 2021
13 May 2021
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
announce an update on current trading for the 53 weeks ending 3
July 2021.
DX's trading performance since interim results were reported on
2 March 2021 has been stronger than expected. While trading at DX
Express has been in line with management expectations, revenue
growth at DX Freight is now expected to be around GBP10 million
higher than previously anticipated. This has been driven by
significantly increased volumes, both from existing customers and
through new customer wins. As a result, the Board anticipates that
DX will significantly exceed existing market expectations for
adjusted profit before tax in the current financial year, with an
associated improvement in operating cash flows.
Given the Group's strong financial position and continuing
business momentum, the Board has decided to repay government
furlough payments totalling GBP0.6m, received in support of the
current financial year. With increased confidence in the Group's
growth prospects and the outlook, the Board also proposes to
accelerate its plans to expand DX's delivery network by targeting
the opening of 12 new depots over the next two years.
The Board will provide a further update on trading and prospects
in mid-July 2021.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR.
Definitions:
DX Freight: comprises DX 1-Man, DX 2-Man and Logistics. The
Division specialises in the delivery of irregular dimension and
weight freight ("IDW").
DX Express: comprises DX Secure Courier, DX Exchange and Mail.
The Division specialises in the express delivery of parcels and
documents.
Enquiries:
DX (Group) plc www.dxdelivery.com
Lloyd Dunn, Chief Executive Officer T: 020 3178 6378
David Mulligan, Chief Financial Officer (c/o KTZ Communications)
finnCap (Nominated Advisor and Joint T: 020 7220 0500
Broker to DX)
Matt Goode/Simon Hicks (Corporate Finance)
Andrew Burdis/Charlotte Sutcliffe (Corporate
Broking)
Liberum (Joint Broker to DX) T: 020 3100 2000
Robert Morton/Euan Brown/William Hall
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.
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END
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May 13, 2021 02:00 ET (06:00 GMT)
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