4th Feb 2019 10:15
LONDON (Alliance News) - Parcel freight firm DX Group PLC said Monday it continues to make progress in its turnaround with interim trading expected to be in line with expectations.
For the six months ended December, DX explained it continued to make "encouraging" progress with its turnaround with trading "in line" with market expectations.
The firm added it was in a "good position" to drive further improvements and remains "on track" to return to positive earnings before interest, taxes, depreciation and amortisation for the full year.
For the year ended June 2018, DX generated a GBP4.9 million Ebitda loss on revenue of GBP299.5 million.
"As planned, turnaround initiatives in the period were more evenly focused across the two divisions, DX Freight and DX Express, in contrast to last year's greater concentration on DX Freight," DX explained in a statement. "Net new business at DX Freight and DX Express remains positive, reflecting the investment in the sales teams. With the increased focus on improving service levels, the rate of attrition in the Document Exchange operation has continued to slow."
Shares in DX were 0.3% higher at 9.19 pence on Monday.
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