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 (Group)
47.40p
16:55 26/01/24
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17:14 28/03/24
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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.