DX Group ready to deliver annual profits

Courier firm DX Group on Tuesday forecast a return to profit for the full year, in line with market forecasts.

DX forecast underlying earnings of £3.2m, compared with a loss of £4.9m a year earlier, with revenues expected to rise 8% to £322.5m.

The company also said net debt was expected to be "significantly better than forecast" at roughly £1.3m as a result of a £3.3m capital investment in the business and improved working capital management.

Looking forward, DX said the group was "well-positioned to make further progress" and achieve market forecasts of earnings before interest, tax, depreciation and amortisation of £7.7m.