DX set to “significantly exceed” profit expectations after double digit growth
Logistics specialist DX has announced that it expects to “significantly exceed” its existing market forecasts following a period of growth.
In a trading update for the 53 weeks ending July 3 2021, the firm’s freight division has outperformed, with revenue for the financial year being around £6m higher than previously anticipated.
The news comes after a period of growth for the company, during which it opened new depots in Rotherham, Middlesbrough and Glasgow.
The company commented: “Since the last market update on 13 May 2021, the group has continued to trade well, with strong ongoing momentum at DX Freight, ahead of management expectations, and good progress at DX Express.
“As a result, the board now anticipates that DX will significantly exceed existing market forecasts for adjusted profit before tax for the financial year ended 3 July 2021.
“Reflecting the increase in profitability, net cash at the year-end is also better than expected at £16.8m (2020: net cash of £12.3m), a rise of 37 per cent year-on-year.”
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