DX Group (DX.)

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Mail, parcels and logistics operator.

20-Oct-2017 – 10.63p – £21.3m

Preliminary Results For The 12 Months To End June 2017 – Revenue flat and Adjusted PBT of 0 (+£92.1m last time). I didn’t bother reading the rest as it was just too complicated for me. I noticed also board changes announced today.

After it’s fall from grace 6 months or so ago, I just don’t know if this is a good opportunity or not – Another one for the “too difficult for me” pile this morning.

2-Oct-2018 – 9.51p – £54.6m – PER n/a

Preliminary Results For The 12 Months To End June 2018 – Revenue up slightly (which is slightly ahead of market expectations), the Loss is also smaller than market expectations.

I remain Neutral here as it’s just too complicated for me – Way too much going on.

4-Dec-2018 – 8.38p – £46.9m – PER 34.4

AGM Statement – First 4 months in-line with management expectations.

This seems positive enough but I will wait to see how the actuals are as and when they come in.

4-Feb-2019 – 9.2p – £53m – PER 24.5

Trading Update For The 12 Months To End December 2018 – Encouraging progress, trading in-line with managements expectations, expecting a return to EBITDA positive.

Will wait to see Actuals as it is most likely a return to profitability is still lacking.

5-Mar-2019 – 10.25p – £58.8m – PER 23.1

Interim Results For The 6 Months To End December 2018 – H1 in-line with management expectations, confident of achieving FY targets.

Looks decent enough but I would prefer to wait and see the FY, to see if there’s an actual return to profitability – I’m not quite convinced!

28-May-2019 – 16p – £92m – PER 26.2

Trading Update – Comfortably on track to deliver FY market expectations.

From the forecasts I can see this means a loss so I will wait until I see the actuals here.

23-Jul-2019 – 13p – £74m – PER 18.5

Trading Update For The 12 Months To End June 2019 – Expects FY to be in-line with market forecasts.

In-line with forecasts, from what I can see, means a loss so I will wait until I see the actuals.

24-Sep-2019 – 14p – £79m – PER 20

Interim Results For The 6 Months To End June 2019 – Turnaround progressing well, H1 slightly ahead, confident of meeting short and long term goals.

Will not be getting involved just yet but now look forward more so now to seeing FY actuals.

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