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2020 Highlights

Financial highlights



(2019: £322.5m)



(2019: £3.3m)

Adjusted PBT/(LBT)


(2019: £(0.2)m)

Reported PBT/(LBT)


(2019: £(1.7)m)

Adjusted EPS/(LPS)


(2019: (0.2)p)

Reported EPS/(LPS)


(2019: (0.4)p)

Net cash/(debt)


(2019: £1.3m)

Cash flow from Operating Activities


(2019: £3.2m)


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