- 6 March 2019
- Transport / Logistics Services
DX has pleased shareholders in cutting losses by 62% to £5.3 million and increasing revenues by 7% to £157 million.
Much of the turnaround has involved devolving responsibility to local depots, improving sales and operational efficiencies as well as group restructuring.
Commenting on the results, CEO Lloyd Dunn said: “I am very pleased with the progress we have made over the last six months, and the turnaround continues to proceed as planned. DX has come through a difficult period, but is now in a fantastic position to push forwards. We are confident in our strategy, and expect to see the Company’s results continue to improve.”
DX’s Chairman Ronald Series added: “DX’s turnaround continues to progress encouragingly, and the Group’s results are in line with management expectations. Our turnaround initiatives are now beginning to bear fruit and the Group remains well positioned for further performance improvement.”
Liad Meidar, Chief Investment Officer, Gatemore Capital Management stated: “We are pleased by today’s results, which are a further sign that DX Group is heading in the right direction. We remain confident in management’s ability to implement its plan to deliver long term growth, and look forward to continuing to work with the team.”