DX trading as expected as shareholders consider HIG offer

23rd Nov 2023 11:56

(Sharecast News) - Logistics and delivery specialist DX Group said in an update on Thursday that it achieved robust levels of new business during its first quarter, maintaining a promising pipeline of further opportunities.

The AIM-traded firm, which was holding its annual general meeting, said that since its last update on 3 October, trading had remained consistent with management expectations.

Additionally, it had made substantial operational progress in line with its strategic objectives, including numerous new site openings as part of its investment plans.

"While the current economic headwinds point to some softening of consumer-orientated volumes, the board continues to remain encouraged about growth prospects, supported by its consistent high service level offering and the commercial opportunities available," said chairman Mark Hammond.

As disclosed on 16 November, DX and Transit Bidco - an indirect wholly-owned subsidiary of funds advised or managed by HIG Capital in association with HIG European Capital Partners - announced an agreement on the terms of a recommended full cash offer for DX.

The specifics of the recommended offer were now in the hands of shareholders for their consideration.

At 1114 GMT, shares in DX Group were up 0.67% at 46.81p.

Reporting by Josh White for Sharecast.com.