Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
An awful day for Tuffnells, and not one that anyone would wish upon their staff for any reason, but hard to imagine a greater opportunity for DX fantasy, the biggest rivals in the IDW sector disappear. Even if they pick up just 10% of the Tuffnells business, that is another previously unanticipated £18 million of turnover.
The company anticipates paying a dividend of 1.5 pence for the financial year to the end of June 2023
Well that reference to “continued strong trading”, gives us a strong clue about what the pre-AGM statement tomorrow morning will say!
Liberum have just issued a buy recommendation with a 45p target for those interested
Liberum now forecasting 20m PBT for 2022 (20% increase in their previous forecast) ie 2.6 eps - they are forecasting 3.4 eps for 2023 or 25.8 million PBT (thus increasing their forecast by 10% for that year)
I understand the last many months has been a bruising experience. But there does appear to be a significant degree of negativity infecting today’s news (which taken at face value is obviously very positive [exceptional items being just that]). Of course there might be something else which the company is not telling us, which may understandably temper enthusiasm, but if today’s trading update is representative of the company‘s prospects, then there is a good deal to be positive about.
That would be terrible news on both counts!
A year ago today we got a trading update following the end of the 26 weeks to 2nd January. This year we do not even have audited accounts for the 12 months to 2nd July 2021. And not a word of substantive explanation. Really disappointing and to me, just as concerning.
Thank you for the reply. I look forward to hearing what they report back.
February tomorrow. Not a word of explanation from the company or any clue as to when the shares will return to trading. The longer this goes on the more pessimistic I become as to the nature and extent of the problems which they decline to reveal.
I was only posting it in case others might find it interesting. I wasn’t trying to pass it off as Buffettian wisdom.
Positive piece from the Motley Fool today:-
“I bought Tritax Big Box REIT and Clipper Logistics last year to make money from the e-commerce explosion during and after the Covid-19 crisis. These UK shares provide logistics and warehousing services to help businesses get their product direct to their customers. I also think DX Group (LSE: DX.) could be a great way to ride this theme.
Okay, DX might be a little fish compared to those other two. But it is expanding rapidly to exploit the fast-growing online shopping market, and has opened new depots in Dewsbury, Luton, Verwood, and Burnley in the last three months alone. I’m confident that the company’s solid cash generation should pave the way for sustained expansion too. DX Group trades at 29p per share, and I think it’s a top buy despite the threat posed by HGV driver shortages to its operations.”
Very encouraging with some positive forecasts from Liberum and finncap (first posted on ADVFN)
hTTps://masterinvestor.co.uk/equities/mid-week-small-cap-round-up-featuring-cake-box-dx-group-and-inland-homes/
They certainly do look very encouraging don’t they
How strange. Anyway things picking up a little as we look forward to Monday
Good news - results on the 8th November confirmed
Yes. Thoroughly unimpressed by Grant Thornton, and also by the lack of information coming from the company. Almost 4 months since the end of the financial year and silence.
Yes - surprising and very disappointing
What seems to me to be encouraging about this announcement, is that it is presented without any caveats about current trading. I do not see how they could put this announcement out, three weeks away from results, if there were anything untoward going on elsewhere in the business. So I take that as a positive.
Could not agree more!
I don’t think you can read it any other way than that it’s additional to the previous £6 million. The alternative interpretation would suggest that notwithstanding the assertion that turnover and profitability had both increased, over the course of the last two months their expectations had reduced by 4 million. That’s a delta of 10 million (not a 6 million increase but a 4 million decrease). It would be strange indeed if a trading update imported that degree of uncertainty into calculations about profitability. I would’ve thought that the natural meaning of the words must prevail.