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DX Share Discussion Threads
Showing 1301 to 1324 of 1325 messages
|Large volume trades, news due on planning?|
|So two 700 k trades and 800 k trade What's the percent of the company ?Any one know no of shares in issue ?Would be great if directors buying again !|
|Anyone going to the later timed AGM ?|
|Another large trade 800 k !|
|Yes, speedsgh. Thanks. Editted.|
|Rerate over due !|
|Aleman - I assume you mean HMPO (Passport Office) contract news, not Post Office?|
|A reminder of last year's forecasts at the half way stage:
ptp eps dps ptp eps dps
Arden Partners 01/03/16 NEUT 10.80 4.25 2.50 9.90 3.85 2.50
Numis Securities Ltd 29/02/16 HOLD 11.60 4.60 2.50 12.10 5.00 2.50
Cantor Fitzgerald 02/03/16 Europe HOLD - 4.60 2.50 - 4.60 2.50
Note that they were ALL beaten as adjusted earnings were 4.9p (according to Digital Look). Since the Passport Office Conract news I only have Numis, so far, at 4.7p and 5.2p for 2016 and 2017, but I gather Arden have a new BUY note out. Anybody seen new numbers from Arden or Cantor?|
|can sell at 19.38 on Barclays, showed some stength lately these last couple of days. never seems to break 20 though looking at the three month chart. Lets hope it does this time.|
|On the move again Is this finally going to break out?Does any one know if the 700 k trades yesterday were buys ? Or seller clearing out ?Or more director buys ??|
|Do your own research but I reckon by February, maybe earlier if the planning gets the thumbs up, you'll definitely see a takeover bid of DX. you heard it here first! in fact I'm inclined to say it may just happen before hand regardless of whether or not they get granted permission.... wait and see!|
|Some big trades going through Two 700 k trades !|
|Due a re rate then Aleman .Pe of 7 = 35 p|
|I can't remember the old Numis forecast but the new one dated 22/11 apparently has EPS of 4.7p for 2017 and 5.2p for 2018 with both dividends at 2.5p.
The Post Office contract is DX's largest at around £20m per annum.
|Trd boom !Dx to catch up ?|
|Happy days In at 17.13 and have the div to come ?Triad next !|
|DX (Group) PLC Successful HMPO tender improves forecast certainty – Zeus Capital - HTTP://www.directorstalkinterviews.com/dx-group-plc-successful-hmpo-tender-improves-forecast-certainty-zeus-capital/412716544
DX (Group) PLC (LON:DX) has confirmed that it has won the retendering of the HMPO contract. We understand that it was a highly competitive process so retaining the contract is especially pleasing and provides greater confidence looking forward. We leave forecasts unchanged but with materially increased certainty on being achieved. The successful retender highlights that the quality of service DX has delivered over the previous contract periods has been respected. The only disappointment in today’s statement is the announcement that the decision on the resubmission of planning permission for the central hub has been delayed until mid-February. Today’s announcement de-risks FY17 and FY18 earnings and net debt forecasts and highlights the attractiveness of the prospective 2.5p dividend in each year. We leave forecasts unchanged meaning DX is trading on just 3.6x FY17 earnings and yielding c.14% on last night’s 17.75p closing price. A conservative 7x short term recovery multiple would equate to a 35p share price offering 97% upside, this would still only equate to 4.0x EV/EBITDA.
* Passport contract importance greater than its size – In annual Group revenue terms the contract is worth a relatively small c. £20m – £25m but we believe the volume it provides for the important Secure division underpin the better economics of this area relative to other areas of the business. The Secure business grew at c.9.0% last year and should continue to grow strongly on the strength of its service offering and retaining HMPO volumes will underpin its economics. We understand it was a very competitive process and to win it shows the strength of DX’s Secure offering. The only material change would appear to be the movement in length from 3+1 year contract term to a 2+2 year.
* Improved visibility in FY17 – Whilst we don’t ignore the intense competition in all areas of the deliveries market, the HMPO tender win materially increases the certainty of achieving FY17 PBT estimate of £12.2m. In turn, this would increase certainty on our assumptions of net debt falling to just c.0.3x EBITDA. With this low level of gearing it increases the attractiveness of the 2.5p dividend which equates to a 14% yield and is twice covered by earnings. Further confidence across the forecast period will be taken should Exchange experience a benign renewals season in January, albeit with the April renewal period still to come before the period end.
* Valuation – Placing a recovery multiple of 7x on FY17 earnings would equate to a DX (Group) PLC share price of 35p, offering c.97% upside. Arguably, this multiple is supported by the greater certainty today’s announcement provides to earnings. The shares have recently gone ex-dividend 1.5p (10th Nov) leading to a 1.75p fall to 17.75p. At this level the prospective yield of c.14.0% is appealing on a balance sheet with little debt as net debt declines to just 0.3x EBITDA.|
|Yes it's good news for DX and it's holders as it keeps things stable in the long standing part of the business.
Smart move by the CEO to hide some negatives in amongst the positive as alone they may be viewed as more damaging then when mixed with a big positive.|
|Numis Under Review 19.50 - - Under Review|
|shows they've performed well in HMPO's eyes over the course of the last contract. The only way has got to be up today. :)|
|Its Great News that they've kept the contract if only a testament to the fact that they can and have the ability to win business, this hopefully should bode well for the future and subsequently the share price.|
|DX, the independent parcels, mail and logistics operator, announces the outcome of the tender process for the contract with Her Majesty's Passport Office ("HMPO") and provides an update on current trading, including its planning appeal and revised proposal for a new distribution centre in the West Midlands.Following the conclusion of the tender process for the Home Office contract covering secure delivery services for HMPO, UK Visas and Immigration, National Crime Agency and General Register Office, the Company has been notified that it has been provisionally awarded the contract, which remains subject only to the finalisation of documentation. The contract is for an initial two year period and may be extended by up to two years.Trading conditions over the first half of the financial year have remained challenging and there has been margin pressure mainly resulting from a change in revenue mix. Nonetheless, with a number of major new contracts due to commence and an encouraging pipeline of new business opportunities under active negotiation, management remains focused on meeting its existing expectations for the full year.The Company's planning appeal and revised application to develop a new central hub in the West Midlands remains under consideration by the local authority and DX now expects a decision by mid-February. A further update on this will be provided in due course.|
|I can't see that decline in DX Exchange is a major cause of DX. profit fall in 2016. In 2013 revenue was £70m. Assuming it's declined by 6% pa (which seems to have been guidance to analysts) then by 2015 it would be about £61m. A 10% drop in revenue equates to £6m. Now I know margins are high in this area but they aren't 100%. EBITDA was down £15.7m year on year. Perhaps DX Exchange contributed a few million of that on a marginal basis? Interesting the FD walked. Suggests poor cost/forecast control was really the heart of it?
Anyone got a view on the size of the Passport Office contract? It forms part of DX Secure which was £43m revenue in 2013. So what, £15-25m? Assuming similar margin then that's upto £2m EBITDA?|