DX Group turnaround plans ‘on track’

DX Group has announced that it is making progress in its turnaround plans, in a trading statement regarding the first half of 2018.

For the half year ended December 31, DX said that it is still making encouraging progress with trading in line with market expectations.

According to the company it is in a good position to achieve further improvements and remains on track to return from losses to positive earnings before interest, taxes, depreciation and amortisation for the full year.

For the year ended June 2018, DX generated a GBP4.9 million EBITDA loss on revenue of GBP299.5 million.

“As planned, 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,” DX explained in a statement. “Net new business at DX Freight and DX Express remains positive, reflecting the investment in the sales teams. With the increased focus on improving service levels, the rate of attrition in the Document Exchange operation has continued to slow.”

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