# DX (Group) plc Progressing steadily and in line

- Link: https://www.directorstalkinterviews.com/dx-group-plc-progressing-steadily-line/412754905
- Published: 2018-07-18T07:14:36+01:00
- Author: Giles Arbor

**DX (Group) plc** (LON:DX.), the provider of delivery solutions, including parcel
freight, secure, courier and logistics services, announced today the following update
on trading for the financial year ended 30 June 2018.

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 £1.1m (30 June 2017: £19.1m), 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 DX (Group) plc 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.

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