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Delivery solutions provider DX upgraded its profit forecast for the year amid 'strong' ongoing momentum at DX freight that had exceeded management expectations and good progress at DX express.
For the 53 weeks ended 3 July 2021, the company now expected to significantly exceed existing market forecasts for adjusted pre-tax profit within a range of £10.0 million to £10.3 million.
Reflecting the increase in profitability, net cash at the year-end is also better than expected at £16.8m, up 37% from £12.3 million last year.
'The outperformance at DX freight is expected to result in the division's revenue for the financial year being approximately £6m higher than previously anticipated,' the company said.
'Express, which provides secure express deliveries, performed well, in line with management expectations as lockdown restrictions lifted,' it added.
DX expects to publish the group's preliminary results for the 53 weeks ended 3 July 2021 in late September 2021.