4th Feb 2020 12:15
(Alliance News) - DX Group PLC on Tuesday said it expects to report its annual results in line with market estimates following "material" improvement in the first half of its current financial year.
The delivery services provider said trading over the six months to the end of 2019 has been "encouraging", as it has benefited from improved service levels and increased new business.
Therefore, it expects to report a "material" improvement in its half-year earnings year-on-year, led by its Freight division. As part of its GBP10 million capital investment programme over financial 2020 and 2021, DX Freight opened a new depot at Ipswich, and additional depots are expected to be opened over the reminder of 2020.
Meanwhile, DX Express has 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.
Looking ahead, DX Group said it expects to deliver further progress in the second half of its current financial year, and believes that it remains on track to achieve current market expectations for the financial year.
The AIM-listed company said it expects to report interim results in early March.
DX Group shares were trading 4.1% higher in London on Tuesday at 12.62 pence each.
By Evelina Grecenko; [email protected]
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