Dx (group) Share Discussion Threads

[babbler] 20/9/2022 07:49

probably later today or tomorrow. Was bank holiday yesterday maybe they weren't quite ready.

[qs99] 20/9/2022 07:46

so results are out, investigation concluded, why still suspended? Need to confirm with LSE? Why couldn't that have been done over the last week?

[babbler] 20/9/2022 07:43

just need to relist now.

[qs99] 20/9/2022 07:36

AGreed, they look v. good

[molatovkid] 20/9/2022 07:24

The unaudited results on the website look pretty good

[fenners66] 20/9/2022 07:17

But now the authorities know , potential fine ?
Didn't they have a director leave recently ?
Note that was not referenced

[qs99] 20/9/2022 07:15

A disproportionate cost I'm sure. Lawyers, accountants will have smelled "fees" without a doubt and I'm not sure this board is strong enough to tell them where to go and sharpen their pencils...

[molatovkid] 20/9/2022 07:14

Bribery.....in logistics!! Who knew??

It clearly could have been much worse...I suspected perhaps there was fraud committed against DX myself, so this is a big relief.

With new depot announcements the company clearly is going from strength to strength.

Hopefully they are restored to trading in a better position than when they were suspended. That said, there will be a financial cost to this investigation and remedies.

[qs99] 20/9/2022 07:09

Blimey, all that time, nearly a year suspended for that? Some competitor information was obtained, de minimis £s paid and "may" have breached Bribery Act. = a year suspension of shares pretty well.

IMO, and obviously DYOR, they need better training, whistleblowing & controls, today's RNS states they are doing this, but IMO this seems to be a massive whirlwind in a tiny corporate cup.

Roll on lifting of suspension, probably loads of sellers, and me buying the other side if trading is still going OK....

Thoughts welcome?

DYOR as ever
Cheers
QS99

[nigelpm] 18/9/2022 10:09

Agreed - need to get a buyback in place on open - absolutely no doubt in my mind it's going to tank hard.

[ls24] 18/9/2022 10:09

Hopefully some good buy opportunities if we have a sell mood

[qs99] 18/9/2022 08:50

good post

a share buyback may be better as there will be big selling I reckon on the release so a good chance to buy and cancel shares cheaply...DYOR

[stemis] 17/9/2022 22:42

The company have said they expect the audit of y/e 3 July 2021 to be completed by 30 September 2022. I don't recall they've said how long the derogation from AIM Rule 41 is until. Once they have released the results for 2021, under AIM rule 19 they have six months from end of June to publish 2022 results (i.e end of December 2022).

As of 11 days ago "The Group's trading remains in line with the trading update made on 7 July 2022, which stated that the Board expects to deliver a further improved performance in the new financial year to 1 July 2023." The update on 7 July 2022 said "that trading for the financial year ended 2 July 2022 is anticipated to be significantly ahead of management targets. The Board also expects to deliver a further improved performance in the new financial year."

I believe Liberium's forecast for 2022 was an EPS of 2.6p, which with net cash of around 5p a share (£27m) would, at 30p, put them on a 'historic' cash adjusted P/E of under 10. Forecast for 2023 is EPS of 3.4p. No idea about cash but could see at least 6p (£35m) so a cash adjusted forecast P/E of around 7. I suspect there's a decent chance of a dividend or share buyback announced with the results.

[ls24] 17/9/2022 22:34

This company knows how to grow its business profitably, the skill sets ripped from TPE didn’t stop at Lloyd. Plenty growth top line and bottom in this ship without the covid boom n busts of the small parcels sector

[tuftymatt] 17/9/2022 20:09

Yeah the trust has gone here and with the sector in difficulty, one day this will open up again well down I think.

[my retirement fund] 17/9/2022 17:52

If this ever manages to resist again, one thing for sure given what FedEx are saying, the price will be a fraction of what it once was.

[effortless cool] 17/9/2022 15:49

Or what ... they get suspended?

[croasdalelfc] 17/9/2022 14:26

9 trading days to get results out

[tuftymatt] 13/9/2022 07:48

Thanks geordielad, I know a fair bit about this industry and unfortunately I can't say that what you have stated comes as a surprise.

[geordielad1] 12/9/2022 21:33

As an ex employee of almost 5 years AND a shareholder I can say with some authority that there is a culture of bullying intimidation and threats towards staff and subcontractors. This stems from the very top of the business so there will be no surprises to me if it transpires that the senior people are involved in something inappropriate. Having spent a long time on express parcels I was glad to leave this badly run company. Not sour grapes here at all but just need to state some facts.

[qs99] 06/9/2022 16:23

Not even a "left to pursue other interests" which is IMO usually code for "pushed"....so a v. odd "just left" statement....

If it helps clear everything then so be it. If trading is in line, then IMO this should enable the "overhang" to be placed, let's see.

DYOR

[tuftymatt] 06/9/2022 12:34

Agree fenners, if you leave on good terms you get a thank you and if you don't then you don't.

[stemis] 06/9/2022 11:59

We've just had a trading update - "The Group's trading remains in line with the trading update made on 7 July 2022, which stated that the Board expects to deliver a further improved performance in the new financial year to 1 July 2023."

We also know that the Board is progressing with its review of the Group's growth strategy and capital allocation policy an update of which will be provided with the accounts. Maybe there has been a falling out over strategy between Dunn and Gatemore.

At the moment though it's all speculation until the accounts are issued.

[marktime1231] 06/9/2022 11:39

Why are you sorry, if his conduct has been the cause of all this trouble? Remember that the previous auditor pointed to potential criminality.

So now we know who was the problem, but we have still to learn what it was and whether there will be further repercussions like fines or damages claim. Still hiding behind some sort of privilege. Can't imagine LD snr would want to retain such a large shareholding outside the boardroom, so who is going to pick that up? He of course remains "interested" while his son is Group Sales.

Clears the obstacle to publishing accounts, they say the audit should be complete by 30 Sep. Then re-listing. Then who will do what I wonder. Maybe the results will come with a trading update and the carrot of a dividend to keep punters hooked, otherwise there might be a rush to offload and move on.