Dx (group) Share Discussion Threads

[nigelpm] 13/6/2023 22:12

It was. Both.

[stemis] 13/6/2023 21:35

Was it Damian and/or Mark?

[nigelpm] 13/6/2023 18:08

Nothing in the mello presentation we didn't know - just a couple of folk offering up their views on it - all along the same lines we've discussed here over time.

[qs99] 13/6/2023 10:07

Agreed, decent news flow opportunity coming up.....hopefully a positive one.

Still no word on how good or bad Mello presentation was received! DYOR

[its the oxman] 13/6/2023 09:06

Mid 30s consolidation hopefully.. Trading update in July may send us higher again after that.

[qs99] 13/6/2023 08:57

Not quite at full Offer price but won't take much IMO but I don't have L2 trading.

DYOR

[qs99] 13/6/2023 08:53

Any views on Mello event peeps? Looks like a few buyers on the back of it which is great!

DYOR

[everton448] 13/6/2023 08:46

Just the stuff that DX specialises in!

[markie7] 13/6/2023 08:43

How was the mello event, anyone?

[tenniselbow] 13/6/2023 08:35

Tuffnells clients were in the main items
Other companies do not want !
Bicycles & larger consignments

[nigelpm] 12/6/2023 18:07

Doesn't look like want bidding for them then. Probably the logical way forward for DX. To contact the drivers and being them in on new DX contracts rather than mess around with tupe.

[rimau1] 12/6/2023 17:47

First time i’ve looked in post suspension!! This is a no brainer with stock still at 30p and a close competitor closing down. Plenty of new business to pick up albeit in a tough operating environment. I have added.

[babbler] 12/6/2023 13:30

https://news.sky.com/story/more-than-2000-people-to-be-made-redundant-at-uk-freight-company-12900981Sad day for staff... Good day for DX.?

[qs99] 12/6/2023 12:33

Great thanks, should generate some more interest and hope someone asks about Tuffnells

[melloteam] 12/6/2023 12:03

FREE VIRTUAL EVENT TONIGHT, MONDAY 12TH JUNE AT 5PM

Just to let shareholders and prospective investors know that DX Group (DX) will be discussed on MelloMonday BASH (Buy, Avoid, Hold, Sell) tonight. For the full programme, please see below

5.00 pm Mello welcome followed by Keynote Interview
5.30 pm Company presentation from Thor Explorations
6.00 pm Damian Cannon presents his Tommy charity pledge
6.05 pm Mello BASH with Damian Cannon & Mark Simpson featuring DX Group (DX.) and Gaming Realms (GMR)

For more information, click here:

To join for free, register for the webinar here:

[qs99] 12/6/2023 08:05

Through 30p on the opening, lovely job

[stemis] 11/6/2023 13:00

The last set of published accounts were for y/e 31 December 2021. Not a lot in the balance sheet. Net bank debt of £1.3m. Pension liability of £0.9m. Trade debtors of £8.9m v sales of £178m suggests they factor (i.e. sell) some of their debtors and indeed there is interest cost relating to 'invoice finance arrangements'.

Without seeing more upto date information it's hard to know Tuffnell's financial situation. At 31 December 2021 they had net assets of £1.8m (tangible net liabilities of £0.3m) and were expecting to make a loss in 2022. Insolvency would generate more liabilities (employment, pension, costs) so suspect an administrator would sell the company for £1 to secure creditors.

I've no idea (as has no one else on here) whether that is a deal worth taking. I'm just saying that DX will be considering it.

[marktime1231] 11/6/2023 12:18

Well how about this for a conspiracy theory. Tuffnells were poised to declare bankruptcy, DX knew it and were mulling the opportunity with Tuffnells insiders happy to help. So between them they hurriedly agreed a cheap litigation settlement, tightly signed off with no chance for an appointed administrator to sue for more.

Against this theory is the observation that as recently as February Tuffnells board were bullish about investing in improvement plans etc. So it may be financers and backers pulling out rather than management throwing in the towel.

All good news for DX if it can scoop up the profitable segments of awkward and express parcel business and any staff / assets / depots which fit well. Didn't Smiths News sell off and lease back some depot sites to extract value before offloading? There will be a price to pay, but probably lower than the £15M paid by BOSS three years ago. From memory Smiths News were fooled in to paying £100M+ ten years ago, which is some value destruction.

The surge in share price reflects the upside of absorbing extra business within existing DX operations?

[stemis] 11/6/2023 11:41

Interesting customer feedback on the situation

hxxps://www.trucknetuk.com/phpBB/viewtopic.php?f=2&t=174940

[mrnumpty] 10/6/2023 16:39

A factor which has encouraged me to ‘ keep the faith ‘ with DX by maintaining my holding here is that the largest holding , at 2.67% , of the Marlborough Special Situations fund , is in DX . There’s a small article about the demise of Tuffnells at the bottom of page 35 in today’s Telegraph ( Business section ) , titled “ Threat of disruption from courier’s insolvency “ . The Telegraph article concludes by stating that “ The prospective administration [ of Tuffnells ] comes only 48 hours after Aim-quoted delivery company DX came to a settlement with Tuffnells in a legal row over confidential competitor information “ . Not only does this legal settlement remove an element of financial uncertainty from DX , but it seems rational to me to presume that any payment by DX would have been less than otherwise , given the distressed state of Tuffnells ( and presumably the urgent need by Tuffnells to obtain any sum of money from any source ) .

[stemis] 10/6/2023 13:49

Er, there's three pretty good reasons; to capture £170m+ of turnover, the drivers to do it and the vehicles to deliver it. Whether they think they can integrate it successfully, move it onto DX systems and manage the drivers I'll leave to those best placed to decided it; the management of DX...

[my retirement fund] 10/6/2023 10:10

Let them have it. Personally, I wouldn't touch Tufnells with a barge pole. Let it go bust and pick any spoils up for free along with everyone else. Treat it as a free meal. If I see DX bidding for this stinking pile of dogs hit I shall happily sell out.

[stemis] 10/6/2023 08:40

The risk for DX I guess is that TPE falls into someone else's hands, who make a better job of running it...