DX sees return to positive earnings as turnaround bears fruit

DX said on Monday that it expects to return to positive earnings for the financial year as it continues to make "encouraging progress" with its turnaround.

In an update for the year to 31 December, the provider of delivery solutions, including parcel freight, secure, courier and logistics services, said trading has been in line with management expectations.

"DX is in a good position to drive further improvements and remains on track to return to positive EBITDA for the financial year," it said

The group said 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.

Net new business at DX Freight and DX Express remains positive, reflecting the investment in the sales teams. Meanwhile, with the increased focus on improving service levels, the rate of attrition in the Document Exchange operation has continued to slow.

At 0950 GMT, the shares were up 0.3% to 9.19p.