DX Group (AIM:DX) trading update sees the shares tumble: is the sell-off overdone?
The trading statement confirmed that trading conditions in the new financial year remain challenging, with pricing pressure a significant factor. The DX Exchange operation is experiencing a higher than expected level of volume erosion and there have been increased cost base pressures, mainly arising from driver resourcing issues (where there is an industry wide shortage). In addition, the new business pipeline in the parcels operation, while healthy, is converting more slowly. Revenues for the first…
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