Dx (group) Share Discussion Threads

[opodio] 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"

[this_is_me] 31/3/2017 07:22

Well that was a bolt from the blue! Swallowed whole!

[joe say] 29/3/2017 10:15

One would have thought so - given its been RNS'd

[this_is_me] 29/3/2017 09:01

It looks more like having to show that they have the skills to carry out a relatively complex process.

[fenners66] 29/3/2017 08:10

After a tender process, economies of scale obviously come into play here and more business helps that , but if there was a very hard tender have they gained profitable business?

[neilyb675] 29/3/2017 07:24

Major contract ✔

[speedsgh] 21/3/2017 11:56

Each to their own, rr. I'm afraid I'm past giving the current management the benefit of the doubt. Will the strateic review be enough to deflect any other nasties contained within the Interims? Why do they need to employ a business transformation specialist? Answer: because the current management are inept and have driven the business towards the edge of a cliff and don't know how to change direction without external third party help. The business transformation specialist's fee should be paid out of the CEO/COO's salaries imo.

[reallyrich] 21/3/2017 11:14

That's not a bad salary.

However there does seem to be a few sparks of better news on the way. 31st is a key date.

from rns today @As announced in early February, the Board has commenced a wide-ranging review of the Company's operations with a view to driving revenues and improving its financial performance. The Board is pleased with the progress being made in this regard and with its wider initiatives. In addition, it has strengthened the Company's Senior Management Team with a number of new appointments, including Nick Cullen as Chief Operating Officer. Ian Gray, a highly experienced business transformation specialist, has also been acting as a consultant to the Board since mid-January.

we shall see

GLA

[speedsgh] 21/3/2017 09:40

As I've said previously, there will be no meaningful progress made with this company until the current board is replaced. The current state of affairs has come about solely on their watch and they should therefore go. No one in their right mind will have confidence in anything proposed by the current management team.

From the 2016 Annual Report:
"DX adopts a simple and clear approach to remuneration. Our policy is to attract and retain the best possible people who have the capability and drive to meet the Company’s strategic and financial objectives. Accordingly, we offer our Executive
Directors a basic salary that is fair and reasonable in comparison with companies of a similar size in similar industries and reflects each individual’s experience and contribution to the Company. We incentivise the Executive Directors to drive strategy year-on-year by rewarding the achievement of the annual targets set by the Committee through an annual cash bonus scheme. The performance targets are linked to EBITDA growth and other KPIs including customer service levels. We believe
that this effectively incentivises the Executive Team to create and protect shareholder value. Long-term performance related remuneration is achieved through participation in the Value Creation Plan (“VCP”) (detailed below) which is closely aligned with the interests of shareholders.

As referred to earlier in this report, this year has been a challenging year for the business and for the logistics sector as a whole. Accordingly, the Committee has decided that there will be no increase in executive pay. In addition, despite hard work and dedication, the Company’s overall performance in the financial year has failed to reach the necessary triggers and, as a result, no annual cash bonus is being paid to the Executive Directors."

CEO Petar Cvetkovic is being paid £500k basic salary! I'm not surprised he didn't achieve the targets necessary for the annual cash bonus scheme. I'm not sure I'd be bothered about the bonus if I had a £500k non-performance-related basic salary. It would be difficult to argue that he is worth even a fifth of his salary. Aimho

[wskill] 21/3/2017 08:36

Good to see we have a chance of recovery now a new brush will soon sweep the deadwood out, I for one will vote for Gartmores choice of a new board.

[gary1966] 20/3/2017 11:42

Oh well that will throw the cat amongst the pigeons. Not surprised and glad to see Gatemore being pro-active with their investment.

[mister md] 14/3/2017 09:21

luckily sold out of these before the recent drop.
Ordered something on Amazon recently which never arrived. Thats never happened to me before and ordered 100s of times. Goods have been "on its way" for weeks now. Shipper name? "DX"

[tuftymatt] 13/3/2017 11:54

The last statement in the above post relates to the fact that the business operates at both ends of the spectrum.

From passports in the "secure" area to furniture in the freight side of the business. On paper you would say they have all ends covered but in reality managing such an operation is very difficult.

[imgoingallin] 10/3/2017 10:23

I was a veherment supporter of DX previously and I was heavily vested in here and I lost some money in here too.

I sold at a loss just recently as a friend of mine a sales rep who works for them was made redundant along with 50 or so others. Customers who use my Company's services are having the most appauling time. Consignments kept in warehouses n0ot trunked and not dsent out for delivery due to "staffing issues". "Staffing issues"- this is happeniing in numerous places. People in the logistics industry know that as soon as parcels stop being delivered on time and accurately customer s walk out en masse.

I fear the writing is on the wall for them. This is of course all in my own opinion but based on what my fiend told me it was impossible for the sales reps to sell. It would take over 4 weeks to set up an account and more often than not , due to service, the customers would leave within 2 months.
Customers were also having two different vans collect the two types of freight a customer was sending which is ludicrous.

[reallyrich] 01/3/2017 17:31

and as far as I am aware the purchase of the land had a clause of subject to planning approval. So they should be able to get that back and if i were they, fuc king sue the council as well!

[freddie ferret] 01/3/2017 13:54

Or carry on, business as usual without the costs of site development IMHO.

[mortimer7] 01/3/2017 11:18

Narrow minded local councillors voting this down despite their own planning peoples recommendation for approval.
The planning appn states DX employ 550 in the area which would've risen to 700 in the new hub. Now they risk losing virtually all those jobs if this decision forces DX to relocate or even worse.

[speedsgh] 01/3/2017 08:28

The time has come for CEO Cvetkovic to walk the plank imo. In fact it's long overdue. Markets have no confidence in the current leadership. No share price progress until a new team is installed. Aimho

[anthonyspencer1] 01/3/2017 08:17

I agree game over. I'm out.

[opodio] 01/3/2017 07:58

Costs relating to the new hub will have to be written off

This could be nasty