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01 Feb 2021 | 13:17

DX Group's B2B revenues impacted by nationwide lockdown

(Sharecast News) - Delivery solutions provider DX Group said on Monday that while trading continued to track "materially ahead" of 2019 in the lead up to Christmas, business-to-business volumes were inevitably impacted by the national lockdown imposed in December. However, DX still expects to "materially exceed" current market expectations for adjusted pre-tax profits for the current financial year.

The AIM-listed group said its outperformance reflected "continuing strong progress" at DX Freight, where both volumes and margins improved year-on-year but the company did also noted that margins had softened due to the business mix, with a greater proportion of business-to-consumer deliveries.

Net new business across both divisions was also said to be "encouraging", with DX referring to its new business pipeline as being "very healthy".

"The group's financial position remains strong, with high levels of liquidity and significant headroom within DX's invoice discounting facility," added DX.

As of 1415 GMT, DX shares were down 3.73% at 34.18p.
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