2020 Highlights
Financial highlights
Revenue£329.3m(2019: £322.5m) |
EBITDA£4.4m(2019: £3.3m) |
Adjusted PBT/(LBT)£1.8m(2019: £(0.2)m) |
Reported PBT/(LBT)£0.3m(2019: £(1.7)m) |
Adjusted EPS/(LPS)0.2p(2019: (0.2)p) |
Reported EPS/(LPS)0.0p(2019: (0.4)p) |
Net cash/(debt)£12.3m(2019: £1.3m) |
Cash flow from Operating Activities£16.9m(2019: £3.2m)
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The results for the period ended 27 June 2020 are on a comparable IAS 17 basis.
Operational highlights
- >DX Freight
- o revenue up 7% to £169.0m (2019: £158.6m) and EBITDA loss down 85% to £1.2m (2019: £7.8m loss and 2018: loss of £14.2m)
- o achieved EBITDA profitability in H2 of £0.7m(H2 2019: loss of £2.3m)
- o Improved performance driven by expansion and enhancement of 1-Man service, and increased productivity and efficiency across the division
- >DX Express
- o revenue of £160.3m (2019: £163.9m) and EBITDA of £23.3m (2019: £26.2m), reflects completion of HMPO contract and coronavirus impact in H2
- o focus now on expansion of Secure Courier service, with approximately 50% of available capacity filled and strong pipeline of opportunities, boosted by launch of ‘Estimated Time of Arrival’ technology in H2
- > Ronald Series to become Non-executive Chairman (from Executive Chairman) at the forthcoming AGM, reflecting the successful conclusion of the first phase of the Group’s turnaround