DX (Group) plc ("DX") is an independent mail, parcels and logistics end to end network operator in the UK and Ireland (Eire) established in 1975, delivering approximately 170 million items in 2013. DX provides next day delivery services for mail, parcels and 2-Man deliveries to business and residential addresses nationwide, for both public and private sector companies. In particular, DX specialises in next day or scheduled delivery of time sensitive, mission critical and high value items for B2B and B2C customers. In March 2012, DX acquired Nightfreight, subsequently named DX Freight, a specialist in the field of irregular dimension and weight freight in the UK B2B and B2C markets with over 7 million deliveries per annum.


IPO Date - 27/02/2014
DX.:LSE is traded on the London Stock Exchange Alternative Investment Market (Aim)

https://www.thedx.co.uk/

cp1

It is DX. the ticker. plenty of movement yet up and down, some they want to get out others like you thing is overdone, give it time to settle if you still keen on them @ 25p they yield 10% on the 2.5p company said will pay next year, below a resume of what happened last Friday............

DX Group trading update sees the shares tumble: is the sell-off overdone?

The trading update from the parcels, mail and logistics operator, for the financial year to 30 June 2016 has seen the shares more than halve in quick time. Clearly some big holders have had enough! However, the severity of the sell-off suggest some irrational Friday selling may have got the better of them. A bargain on offer or more to fall?

The trading statement confirmed that trading conditions in the new financial year remain challenging, with pricing pressure a significant factor. The DX Exchange operation is experiencing a higher than expected level of volume erosion and there have been increased cost base pressures, mainly arising from driver resourcing issues (where there is an industry wide shortage). In addition, the new business pipeline in the parcels operation, while healthy, is converting more slowly.

Revenues for the first four months are 5.3% down against the prior period and profits will be significantly below current market forecasts, being previously for pre-tax profit of £27.45m and eps of 10.9p. The proposed dividend payout for the full year is now 2.5p per share (from 6.10p) which equates to a yield of a whopping 10% at the now discounted share price, seemingly well covered by earnings, although not necessarily by cash. Debt is also forecast to climb given the proposed investment. Management commented how they are “positioning the business for long term success, creating a more efficient operating structure to support our services under our OneDX programme.” That all sounds reasonable if some short term pain will result in future gain, however Mr Market seems to think it’s all terminal.

House broker Zeus has taken a hatchet to estimates: EBITDA is cut by 42% to £20.0m in FY16 (previously £34.5m) leading to earnings declining by 55% to 4.9p. The dividend is cut to 2.5p (previously 6.2p) and it is forecast that it will remain at this level in both FY17 and FY18. Net debt increases to £26.5m and £40.0m in FY16 and FY17 (previously £18.5m and £40.0m), however, this assumes an investment of c. £37.0m in to the new hub, weighted 60% in FY16. Excluding this investment net debt would be below £10.0m in FY16 falling marginally in FY17. Earnings estimates are therefore forecast to fall over the next 3 years 2016/17/18 to 4.9p, 4.7p and 4.3p respectively Assuming the now lowly 25p share price this puts the shares on a June 2016 multiple of 5.1x rising to 5.8x in 2017. Arden Partners arrived at an even more drastic scenario with revised forecasts: 2016 Revenues £301m to £288m, PBT £27.9m to £9.9m, EPS 10.7p to 3.9p DPS 6.1p to 2.5p

For those after a ‘possible’ 10% yield who are happy to wait a few years for growth to reappear, it could an interesting one.
Http://www.investorschampion.com/blog/entry/dx-group-aimdx.-trading-update-sees-the-shares-tumble-is-the-sell-off-overd#sthash.Umz9tgfD.dpuf

Thanks. Equiniti doesn't recognise the symbol :-(

DX (Group) PLC (LON:DX) was downgraded by research analysts at Numis Securities Ltd to a “hold” rating in a research report issued on Monday, Analyst Ratings Network.com reports. They currently have a GBX 33 ($0.50) price target on the stock, down from their prior price target of GBX 110 ($1.67).
Numis Securities Ltd’s price target indicates a potential upside of 43.48% from the company’s current price.
http://www.dakotafinancialnews.com/dx-group-plc-lowered-to-hold-at-numis-securities-ltd-dx/656040/

RE: way oversold ?

P/E Ratio TTM 2.11
Price to Sales TTM 0.16
Price to Cash Flow MRQ 4.71
Price to Free Cash Flow TTM 4.71
Price to Book MRQ 0.24

This afternoon has settle and looks ready for the much expected bounce
order book has change also and is at the moment slightly stronger on the bid side
and on the ticker there is 5 buys for every 1 sell now

cp1 - try dx..l which works on ig ...... you're correct that the underlying ticker is dx.

having read the stuff that mentor kindly posted, this looks like one to trade quickly -watch for bear closing perhaps tomorrow as dow now very strong (+120) and ftse showing +35 after close - or be prepared to hold for a long time and hope there are any more skeletons

==============

re driver shortage
racing certainty that in line with so many of these companies, they treat their drivers very badly and pay the bare minimum ..... chances are that they demand that their drivers are self-employed, so they get screwed even more badly ...... that would be why they churn staff ..... a really dumb attitude to their most important asset

Is it ready for the bounce @ 21.25p?
The lowest point was last Friday @ 18.75p, has been rising since
the level 2 just now is a bit weak at the bid price after the 1p rise

The sings are that the bounce is certainly on
on a strong order book as share price movement up on any small buying

Indicators at oversold are rising also

23.75p +1p

And a nice follow through this morning, up another 1.25p on what comes into sight a big red day for the general market.

After the rise, an as the market got more negative there is a 2 ways trading, will take it a consolidating

Interim Results were on 16th February last year.

DX, the leading independent parcels, mail and logistics operator, will report results for the half year ended 31 December 2015 on 29 February 2016.

Half Yearly Report

EY POINTS

Financial

· Half year results in line with revised management expectations

· Revenue of £141.6m (2014: £147.4m)

· Adjusted* profit before tax, before one-off exceptional item, of £2.4m (2014: £10.7m)

· Profit before tax, before one-off exceptional item, of £1.3m (2014: £9.9m)

· Goodwill impairment of £88.4m (2014: nil) in the period - a non-cash charge - reflecting challenging industry conditions and profit decline

· Reported loss before tax, after exceptional item, of £87.1m (2014: profit of £9.9m)

· Adjusted EPS of 1.1p (2014: 4.3p) / Reported LPS, after exceptional item, of 43.6p (2014: profit of 3.9p)

· Net debt at 31 December 2015, a high point in the annual cycle, of £12.3m (2014: £12.1m)

· Interim dividend of 1.0p per share proposed (2014: 2.0p), subject to shareholder and Court approval of a capital reduction. Board commitment to full year dividend of 2.5p per share

Operations

· Plans are in place to proceed with the third party development of the new central hub in the West Midlands subject to planning permission and developer funding, that will:
o require no additional debt borrowings for DX
o provide for significant operational and financial benefits
o enable DX management to remain focused on delivering the OneDX strategy

· OneDX integration programme progressed steadily - with two further site co-locations and additional IT integration

· Continuing service improvements - with launch of 'DX Parcel Exchange' service - offers customers a market-leading 'pick up and drop off' solution

· Sales team transformation completed - now beginning to deliver material new business wins to replace managed exit of low margin contracts

* The following definition has been applied consistently throughout the announcement of interim results:
Adjusted profit before tax and adjusted earnings per share:
· exclude the £1.1m amortisation of acquired intangible assets for the six months to 31 December 2015 (£0.8m for the six months to 31 December 2014 and £1.9m for the year to 30 June 2015). The remaining amortisation relates to capitalised developed software that is being written down over 3 to 5 years.
· exclude £88.4m exceptional items reflecting impairment of goodwill (£nil for both the six months to 31 December 2014 and the year to 30 June 2015).

Petar Cvetkovic, Chief Executive Officer, commented:

"Half year results are in line with revised management expectations, having been substantially impacted by the specific trading pressures outlined in November. The management team continues to focus on responding to these issues.

Although market conditions remain difficult, we have completed the managed exit of a number of unattractive contracts and have seen our sales team start to secure attractive new contracts. In addition, we continue to make steady progress with our strategic OneDX programme including our plans to develop our new central hub.

Despite the current headwinds to the business, and with much to do still in the seasonally important second half, the Board anticipates that the Company will trade over the full year broadly in line with its expectations. We continue to position the Group for longer term sustainable growth and the Board remains confident in the medium term outlook for the Group."

Cantor Fitzgerald Hold 22.50 26.00 26.00 Reiterates

Cantor Fitzgerald Hold 19.88 26.00 23.00 Reiterates

Acquisition of Legal Post and First Post

DX, the leading independent parcels, mail and logistics operator, is pleased to announce that it has exchanged contracts for the acquisition of the trade and assets of The Legal Post (Scotland) Ltd ("Legal Post") and First Post Ltd ("First Post") from First Scottish Group Ltd ("First Scottish") for a total consideration of £3.25m in cash, with completion expected at the end of May.

Legal Post provides a document exchange and postal service in Scotland, delivering legal documentation quickly and efficiently. First Post operates a Downstream Access mail service in Scotland offering a high quality, cost effective alternative to Royal Mail's first and second class services. The operations generated combined sales of £5.2m and operating profit of £0.6m for the year ended 31 May 2015.

Following completion, DX will combine Legal Post and First Post with its existing operations in Scotland to offer an enhanced service to both sets of customers. It also anticipates making cost savings of at least £0.6m.

Update on the proposed West Midlands hub

The Board of DX announces that, at the local authority planning hearing held late last night regarding the development of the Company's proposed new central hub in the West Midlands, the planning application was not approved.

The Board of DX will now consider its options, including an appeal against the decision, in consultation with its planning and property advisers. A further announcement will be made in due course.

Trading Update

DX, the leading independent parcels, mail and logistics operator, is pleased to provide a trading update for the second half of the financial year to date.

Trading to date in the second half of the financial year has been in line with management expectations, with customer renewals at the DX Exchange operations at anticipated levels. The Company therefore remains on course to meet management expectations for the financial year.

The Board is reviewing its options regarding the proposed new central hub in the West Midlands. These options include an appeal against the decision by the local authority planning hearing to decline DX's planning application, as announced on 18 May.

Management continues to position the Group for longer term sustainable growth and the Board remains confident in the medium term outlook for the Group.

Trading Update and Board Change

DX, a leading independent parcels, mail and logistics operator, provides a trading update for the year ended 30 June 2016, including its proposed new central hub and contract with Her Majesty's Passport Office ("HMPO"). In addition, it reports a change to its Board of Directors.

The Company is pleased to confirm that trading for the year ended 30 June 2016 is in line with management expectations, following a satisfactory second half. In terms of progress with its proposed new central hub in the West Midlands, the Board is proceeding with an appeal of the decision made by the local planning authority announced on 18 May, as well as considering suitable alternative sites. Regarding its contract with HMPO, the Company is pleased to confirm that the tender process is now underway with the outcome expected by October.

The Company also announces that Ian Pain, Chief Financial Officer, has decided to step down from his role and the Board to pursue new opportunities. The process to identify his replacement is underway and Ian will remain with the Group in order to ensure an orderly handover with his successor. The Group will make a further announcement regarding an appointment in due course.

DX's full year results are scheduled to be announced in mid-September 2016.

Results imminent.