DX Group maintains operations at all sites despite Covid-19 lockdown

Logistics firm DX Group has continued to maintain operations at all its depots and service centres since Downing Street's Covid-19 lockdown measures came into effect.

DX said on Thursday that it had experienced a "slow and steady recovery" in trading since 16 April, with that in DX Freight and DX Express being better than anticipated, although revenues were still approximately 10-15% below their expected seasonal levels.

As a result of the improvement and taking into account the outlook for the remainder of the financial year, the AIM-listed group now expects to generate a small pre-tax profit in the second half of 2020 and full-year revenues and adjusted underlying earnings to be ahead of current market forecasts.

DX also highlighted that it had continued to manage costs tightly, whilst re-introducing some costs into the business as volumes recovered.

Chairman Ronald Series said: "This period has demonstrated the resilience of the business, and trading since mid-April has recovered more quickly than we anticipated at the beginning of the UK's lockdown, although it is still 10-15% below the levels we would expect at this point in the year.

"We remain well-positioned to deliver further recovery in volumes, and will continue to control costs carefully."

As of 1040 BST, DX shares were up 8.29% at 10.12p.