Share Name Share Symbol Market Type Share ISIN Share Description
DX LSE:DX. London Ordinary Share GB00BJTCG679 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 9.50p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 287.9 9.4 3.8 2.5 19.05

DX Share Discussion Threads

Showing 1551 to 1571 of 1575 messages
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DateSubjectAuthorDiscuss
28/4/2017
07:16
Supply chain firms feeling the pinch, says Begbies Traynor 18 April 2017 | 07:17am StockMarketWire.com - Britain's vital supply chain firms are starting to feel the pinch, with more companies showing increased signs of stress, according to new research from insolvency firm, Begbies Traynor. Its latest Red Flag Alert showed that in the first quarter levels of 'Significant' financial distress within key sectors of the UK supply chain had risen by 26% on average over the past year following increased cost pressures from rising inflation in both fuel and food prices. It said this followed the news that UK inflation rose to 2.3% in March, its highest level since September 2013, with transport costs being the biggest contributor, increasing 6.6% over the past 12 months. Of all the sectors covered by the research, Industrial Transportation & Logistics businesses experienced the largest increase in 'Significant' distress, up 46% year-on-year (Q1 2017: 7,539 companies), with a 16% increase in the Wholesale sector (Q1 2017: 7,706 companies) and a 15% increase in the Food & Beverage Manufacturing sector (Q1 2017: 6,405 companies). It said: "Worryingly, these negative findings are yet to reflect the recent increase to the National Living Wage that came into effect on 1 April 2017, which is likely to add even more pressure to the margins of these key sectors in the UK supply chain, which have a relatively high reliance on lower paid and temporary workers." Begbies Traynor partner Julie Palmer said: "Levels of financial distress have increased significantly over the past year, and nowhere more so than in the Transportation and Logistics sector, which continues to be severely hit by ongoing fuel price inflation. "Given the scale of the increases in distress during Q1, it would appear that food suppliers, logistics firms and wholesalers are yet to fully pass on these rising costs to their customers. "But it is only a matter of time before we start to see this coming through, especially given the added margin pressures associated with the new National Living Wage. "Once those costs ultimately feed through to consumers, we'd expect further pressure on sectors exposed to discretionary spending such as retail, bars and restaurants, travel and leisure." Executive chairman Ric Traynor added: "These figures show that rising energy and food prices, combined with the devaluation of sterling, have undoubtedly put a strain on the much of the UK's supply chain. "As we wait to see what a future UK trade agreement with Europe might look like, these suppliers face continued uncertainty, not just in terms of their European distribution channels but also with regards to staffing, given their higher reliance on European migrant workers. "It is clear that UK suppliers, wholesalers and manufacturers can't afford to adopt a 'wait and see' approach - they'll need to rapidly invest to improve their efficiency or renegotiate prices with customers to avoid the risk of falling into more severe financial distress in the coming months."
opodio
18/4/2017
09:15
StockMarketWire.com Britain's vital supply chain firms are starting to feel the pinch, with more companies showing increased signs of stress, according to new research from insolvency firm, Begbies Traynor. Its latest Red Flag Alert showed that in the first quarter levels of 'Significant' financial distress within key sectors of the UK supply chain had risen by 26% on average over the past year following increased cost pressures from rising inflation in both fuel and food prices. It said this followed the news that UK inflation rose to 2.3% in March, its highest level since September 2013, with transport costs being the biggest contributor, increasing 6.6% over the past 12 months. Of all the sectors covered by the research, Industrial Transportation & Logistics businesses experienced the largest increase in 'Significant' distress, up 46% year-on-year (Q1 2017: 7,539 companies), with a 16% increase in the Wholesale sector (Q1 2017: 7,706 companies) and a 15% increase in the Food & Beverage Manufacturing sector (Q1 2017: 6,405 companies). It said: "Worryingly, these negative findings are yet to reflect the recent increase to the National Living Wage that came into effect on 1 April 2017, which is likely to add even more pressure to the margins of these key sectors in the UK supply chain, which have a relatively high reliance on lower paid and temporary workers." Begbies Traynor partner Julie Palmer said: "Levels of financial distress have increased significantly over the past year, and nowhere more so than in the Transportation and Logistics sector, which continues to be severely hit by ongoing fuel price inflation. "Given the scale of the increases in distress during Q1, it would appear that food suppliers, logistics firms and wholesalers are yet to fully pass on these rising costs to their customers.
ggbarabajagal
10/4/2017
16:10
He seems like a switched on cookie with a bit of common sense
reallyrich
10/4/2017
13:27
I wonder if the withdrawal of Gatemore's requisition of a general meeting is because their fears referred to in the articles above have been allayed or because they have decided that DX is a bad investment? If the latter, then they will have 11% to sell once the shares start trading again. EDIT - I think the following article probably provides the answer... Board of logistics group DX wins reprieve as activist investor shelves emergency meeting (7/4) - HTTP://www.telegraph.co.uk/business/2017/04/07/board-logistics-group-dx-wins-reprieve-activist-investor-shelves/ …Mr Meidar [Gatemore’s managing partner] said while he remained opposed to the deal he was going to give room for a “middle ground” thesis which had developed among some shareholders - namely that while the proposed deal is unattractive, the merger process could result in new bidders entering the talks or better terms being struck with Menzies. “If a substantially better deal does not emerge, we believe the current one will be blocked, at which point shareholders will coalesce around changing the board,” Mr Meidar said. “We have built our position in DX with a long-term view and are willing to be patient to achieve full value.”
speedsgh
09/4/2017
13:46
Gartmore or Gatemore? http://www.telegraph.co.uk/business/2017/03/31/dxs-planned-tie-up-john-menzies-bad-deal-according-activist/ hxxp://postandparcel.info/79193/news/gatemore-dxmenzies-tie-up-not-in-the-best-interests-of-shareholders/
stemis
08/4/2017
08:09
Gartmore on the Menzies bid: An I'll conceived proposal from a position of weakness.
my retirement fund
03/4/2017
15:24
I think we all now have to start studying MNZS.
freddie ferret
02/4/2017
18:37
Looks like a sink or swim deal. Huge execution risk. Parcel companies are very difficult to merge. That being said DX are probably heading onto the rocks without some form of transformational deal. Last chance saloon!
topvest
31/3/2017
13:05
Has menzies been in decline for a number of years
tjbird
31/3/2017
13:03
interesting views and events.. I've been watching dx for a while...
sikhthetech
31/3/2017
12:44
The post below (from March last year) might be of interest - there is still a working link to the CNBC write-up. ---------------------------------------------------- 1gw - 08 Mar 2016 - 18:22:57 - 152 of 264 John Menzies - MNZS Spin-offs And on that theme, I listened to David Kostin, the Chief US equity strategist for Goldman Sachs, speaking on CNBC earlier today. He was pushing the idea that there has been a trend recently of companies creating greater returns for their shareholders by spinning off subsidiaries. He thought this trend would continue and said that the chances were good of a dramatic increase in return to shareholders (in terms of an excess return in the spinco vs the parent) if the company being spun off had the following characteristics: 1. A lower p/e multiple than the parent; 2. A lower expected return than the parent (in respect of earnings growth); 3. Operates in a different industry from the parent. It seems to me a spin off by John Menzies of the distribution business (i.e. retaining the aviation business) would fit these criteria, but the (perhaps) more obvious spin-off of the aviation business would not. I suppose practically for the John Menzies shareholders it doesn't really matter which business is spun off and which is retained so long as they get the chance to participate in both, but thought that it was an interesting perspective, and one I hope Lakestreet will not be shy of bringing to the board's attention. I see in the write-up of the CNBC segment, GS appear to advocate going long the spinco and short the parent, so something to watch for if we do get there. hTtp://www.cnbc.com/2016/03/04/goldmans-spinoff-strategy-beats-the-market.html
1gw
31/3/2017
12:09
As a long-time Menzies shareholder I think this seems almost perfect for Menzies. For several years now there has been a discussion about whether it would achieve more value for shareholders by splitting the distribution business from the aviation business, so that each could be funded and valued appropriately. For a long time the Menzies family appeared to be against the split. But over the last couple of years activist shareholders have got involved arguing for the split and relatively recently managed to get the board to agree to reviewing the idea seriously. The board were due to come back with a definitive proposal in about 6 months time. Reversing into DX would achieve this split without the cost of an additional listing (although I guess it might want to move to the main market further down the line) and with the benefit of anticipated cost synergies to balance the additional corporate costs from splitting the group. It also gives management something to get their teeth into in terms of integrating (and turning round?) the DX business.
1gw
31/3/2017
12:06
SteMis, need to include debt and current share capital. Possibly something like 8 times after tax at 10p assuming conservative synergies, 7 times if you use their projections IMO.
spooky
31/3/2017
11:48
rr - John Menzies' strategy has been to sell their Distribution division, not burden itself with another underperforming distribution company. From today's rns... "The boards of DX and John Menzies believe the proposed Transaction structure enables both DX and John Menzies shareholders to share in the significant value created by the combination of DX and Menzies Distribution, whilst increasing significantly the liquidity of DX's ordinary shares and enabling the divestment of Menzies Distribution into a separately quoted company in line with John Menzies' strategy."
speedsgh
31/3/2017
11:33
pretty big group menzies. Should of just bought out dx. hxxp://www.johnmenziesplc.com/media/1758/final-results-announcement-final-08-03-17.pdf
reallyrich
31/3/2017
08:45
Back of the envelope - we are issuing 4 x the current market cap of DX. in new shares = £80m + £60m cash + £2m pension deficit (17% x £43.2m less £5m shares)= £142m. For this we get £25m in profit plus £8m - £12m cost synergies, £33m - £37m. So about 3.7 - 4.3 x EBIT. Assume some restructuring costs, so maybe 5 x EBIT on a worst case basis. Plus our 'failed' management is replaced by those of Menzies and financial stability of company restored. Looks a good deal and at least something has happened. With luck should open at 15p.
stemis
31/3/2017
08:02
Re: John Menzies' Distribution Division Potential combination of DX and John Menzies' Distribution division The boards of DX (Group) plc ("DX") and John Menzies plc ("John Menzies") today announce that they are in discussions regarding the potential combination of DX and John Menzies' Distribution division ("Menzies Distribution") (the "Transaction" and together the "Enlarged Group"). The boards of DX and John Menzies believe that the combination has strong strategic logic for all stakeholders and represents an opportunity to deliver significant value to both companies' shareholders. The boards of DX and John Menzies believe that the combination would benefit the customers of DX and Menzies Distribution through the creation of a logistics and parcel carrier of enhanced scale and capability operating through a 24 hour UK wide logistics network. Based on a preliminary joint assessment, the boards of DX and John Menzies estimate that the combination would generate cost synergies in the range of £8 million to £12 million per annum. It is currently envisaged that the Transaction would be effected by DX acquiring Menzies Distribution for consideration, on a cash and debt free basis, comprising £60 million in cash and the issue of new DX ordinary shares (the "New DX Shares") representing 80% of DX's issued share capital as enlarged by the Transaction. The cash consideration will be satisfied by new borrowings by the Enlarged Group. As part of the Transaction, it is proposed that approximately 17% of John Menzies' defined benefit pension scheme would transfer to the Enlarged Group. John Menzies' pension scheme would receive New DX Shares amounting to up to 5% of DX's issued share capital as enlarged by the Transaction as part of the transfer arrangements agreed with the John Menzies pension trustees. It is intended that the balance of the New DX Shares would be issued by DX to John Menzies' shareholders pro rata to their holdings of shares in John Menzies at the relevant date. On this basis, current DX shareholders would own, in aggregate, 20% of DX's issued share capital, John Menzies shareholders would own, in aggregate, at least 75% of DX's issued share capital and up to 5% of DX's issued share capital would be owned directly by John Menzies' pension scheme. The boards of DX and John Menzies believe the proposed Transaction structure enables both DX and John Menzies shareholders to share in the significant value created by the combination of DX and Menzies Distribution, whilst increasing significantly the liquidity of DX's ordinary shares and enabling the divestment of Menzies Distribution into a separately quoted company in line with John Menzies' strategy. On completion of the Transaction, it is intended that the composition of the board of the Enlarged Group would comprise a new chairman and new independent non-executive directors. Greg Michael and Paul McCourt, currently Managing Director and Finance Director, respectively, of Menzies Distribution, would become Group Chief Executive Officer and Chief Financial Officer of DX. Daljit Basi, currently Finance Director of DX, will become an Executive Director. The Boards of DX and John Menzies currently anticipate the Transaction will be completed during the summer of 2017. Discussions are ongoing and there can be no certainty that a transaction will occur. Zeus Capital is acting as financial adviser to DX and Rothschild is acting as financial adviser to John Menzies. Greg Michael (Managing Director of Menzies Distribution) was appointed Managing Director of Menzies Distribution on 1 January 2017. He has previously held senior positions in DHL and Deutsche Post and has a successful track record in managing and driving companies' growth performance within the logistics sector. Paul McCourt (Finance Director of Menzies Distribution) joined Menzies Distribution in 2014 from Ingenico Northern Europe and Iberia where he was Finance and Operations Director. Before that Paul spent 10 years with PricewaterhouseCoopers as a senior manager followed by 3 years at Grant Thornton as a Director. If the Transaction proceeds, it will constitute a reverse takeover by DX in accordance with Rule 14 of the AIM Rules for Companies. Accordingly, ordinary shares in DX are expected to be suspended from trading on AIM as of 7.30am today, pending either publication of an admission document containing detailed information on the proposed transaction in accordance with AIM Rule 14 or the termination of discussions regarding the proposed transaction. A further announcement will be made when appropriate.
skinny
31/3/2017
07:58
Quite a bit if you count the pension deficit which DX. will now help fund
joe say
31/3/2017
07:51
decline in average prices and failure to win anticipated levels of new business structural decline in Exchange additional costs at Swanley £18m debt "current DX shareholders would own, in aggregate, 20% of DX's issued share capital"
opodio
31/3/2017
07:22
Well that was a bolt from the blue! Swallowed whole!
this_is_me
29/3/2017
10:15
One would have thought so - given its been RNS'd
joe say
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