DX Group 2015 final results

DividendMax Ltd.

DX Group 2015 final results


Revenues from ongoing activities of £297.5m (2014: £304.2m)

- progress with new customer wins offsetting programme to exit commercially unattractive contracts

Adjusted EBITDA steady at £33.7m (2014: £33.7m)

Adjusted PBT of £26.7m (2014: £27.7m) / Statutory PBT of £24.8m (2014: loss of £55.7m)

Adjusted EPS of 10.9p (2014: 10.7p) / Statutory EPS of 9.9p (2014: loss of 70.2p)

Strong cash generation from operating activities of £27.7m (2014: £23.8m)

Net debt reduced to £1.8m at year end (2014: £12.2m)

Significant capital expenditure of £9.9m (2014: £8.7m) - to support OneDX programme

Proposed final dividend of 4p, taking the total for the year to 6p (2014: 2.0p - in respect of the four month period post AIM admission)


Continued progress with OneDX programme

o all trading entities integrated under one company structure

o operational management brought under a single reporting structure

o key functions centralised, including sales, operations, customer services, finance, HR and IT

o ongoing network consolidation and development

Acquisition of certain assets from City Link (in Administration) and purchase of a 49.8% shareholding in Gnewt Cargo, a zero-emissions logistics company

Ongoing IT investment to enhance service levels

Proposed development of a major new hub - 44 acre site in the West Midlands acquired, subject to planning consent

Board confident of strategy to deliver long-term growth

Petar Cvetkovic, Chief Executive Officer of DX, said:

"We have continued to make steady progress with our OneDX programme. This substantial and ongoing investment across the business supports our aim of providing enhanced delivery solutions to our customers. It is also creating a more efficient operating structure to underpin our offering, which is based on a market-leading range of services, value and high customer service levels.

"Trading conditions in the second half remained challenging and given these tough conditions the performance of the business for the year has been satisfactory. The group continues to generate strong cash flows, which supports our investment programme, including our proposed major new hub, and our progressive dividend policy. 

"Looking forward, our OneDX programme remains a key focus and we have a solid strategy supported by a robust balance sheet. Trading conditions continue to be tough but we are well placed to take advantage of any improvement and we have started the year in a positive manner. The Board remains confident of our strategy to deliver long term growth."

Companies mentioned