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DX upgrades outlook on profit amid ongoing momentum
StockMarketWire.com
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Logistics company DX upgraded its outlook on profit after reporting that volumes continued to track 'materially' ahead of expectations until Christmas, though margins had eased following the December lockdown.
The company said it now anticipates that DX would materially exceed current market expectations for adjusted pre-tax profit for the financial year.
'The outperformance reflects continuing strong progress at DX Freight, where both volumes and margins have improved over the same period last year,' the company said.
'Volumes at DX Express were slightly better than management expected but margins have softened. This was due to the business mix, with a greater proportion of B2C deliveries as B2B volumes were impacted by the coronavirus restrictions,' it added.
The company expected to report interim results in early March 2021.
At 8:02am: (LON:DX.) DX Group Plc share price was 0p at 18.1p
Story provided by StockMarketWire.com
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