Member Info for portswigger

Fair comments Sister. I admire your confidence buying in.
Too much of a blurry picture and economic uncertainty for me.

Absolutely Pianista it probably was. I am not sure of the need of an rns. I think those issues are already factored in. I know from my own experience that It’s obvious that DX are struggling like all carriers to deal with existing business.

It doesn’t make sense to embark on depot openings if they are struggling to deal with existing business so I think some depot openings may possibly be delayed depending on the lease agreements that may be in negotiation. It seems the govt offer to euro hgv drivers has had pretty paltry response so driver transport problems could be with us for at least a year.it’s really just part of my justification for saying DX face particularly strong headwinds in the expansion strategy and there is a very long way to go in my option.

There is pinned notification on the DX Facebook page informing of driver and general labour problems dated around the 10 Sept. it seems DX are not immune. The next trading update will be interesting.

Thanks for the imput ps65. i agree that dx would want the results out before deadline. dx certainly wouldn't want a headline that they have been fined for late filing no matter whose fault it was or how much it was.

i take your point on lloyds history and the growth to date has really been about modernising and turning around a rather antiquated and clunky system. The headwinds at the minute will not have been experienced before... A pandemic that has decimated the worlds economies and supply chains, problems in china manufacturing, brexit complications and a growing labour shortage together with substantial inflationary pressures.Turbulent times in which to aggressively grow a business that relies on supply chains. As i have said before it is a very tough ask to continue this trajectory in these times.

i do like the website, much better than the last update. lloyd talks very well and it is very easy to get swept up in his enthusiasm like vox have in my opinion. I admire his objective to be the best but its very difficult on the price driven aspects of their revenue streams and you are competing with companies who have much bigger war chests. There isn't the depot geographical coverage currently to achieve best in class service and there are vast areas of the country that are pretty thin on the ground for coverage. So to achieve their objectives of being the best in their field we are probably looking at atleast 50 more depots and 500 vehicles plus moving forward.. there is no doubt dx have done exceptionally well to date but using a running analogy i think we are about 3 miles into a marathon.

Interesting to see lloyd dunn jnr as sales director maybe he'll be in charge in 5 years or so when i think i might still be posting on the this board.

Pleased to see DX have updated their website.

Nice to have a new poster... welcome ps65.

whilst i agree that it is not unsual for audits to be delayed.. the timing one week before results were due smells of very poor communication between gt and dx. if newstead was the auditor involved surely there must have been some signposting of possible sactions and how this would affect the dx outcome. if a new statory auditor has only been appointed recently then surely we are looking at weeks - 4/6 plus... they may even need permission for late filing. Perhaps ps65 would enlighten us on his thoughts.

Cheslsea is right though... this pregnant silence affects sentiment which in turn affects the sp. openings have been signposted so i can't see anything positive that we don't already know that isn't already priced in . i think we'll be languishing around 30 for a good while yet unfortunately.... certainly until we have further transparent communication.

I agree Pianista. It is in DX interests to put out a relatively detailed trading update if there is an extended delay in results.

I think it could be linked to the sanctions recently given to GT and Mr Newstead announced last week.

Let’s hope we hear something within a couple of weeks. This is one occasion where silence isn’t golden.

Last time the SP dropped below 30p I couldn't resist buying. This time I don't think I will.

Although the update that trading in the latest financial year is in line with expectations which is welcome it is quite vague in my view. Everyone knows that the supply chain is virtually all anyone has talked about recently so I would have hoped DX would have been a little more direct and transparent about commenting on it. I might have bought otherwise.

We are now in a bit of no mans land. We have no idea when the audit will be completed and results issued.It really leaves DX at the continued mercy of negative market sentiment.Even if the DX directors had thought of buying shares they can't as they are limbo with the closed period. That was one thing I was looking for if the results were published next week at these levels.

I can't imagine DX would be happy about this and as a share holder neither am I.

One week until publication and now we are told of a need replace the statutory auditor.What a shambles...What are Grant Thornton playing at. This could go on for months possibly Christmas.

No metrics to measure performance.!!. The markets are waiting for it and now we don't know when we will get it.How are we expected to see any share price growth.40p seems a long way off in my opinion now.

If Grant Thornton were involved in my business they would be sat in the ejector seat.!!

A very poor show in deed.

Yep the markets have reacted positively to wincantons update so far. it remains to be seen if this is sustained. but they are a very different business to dx both in model and stage of the business cycle. it seems that anything substantially supply chain influenced can get a bit of hammering and the markets seem to be picking up on anything mildly negative. the negativity seems to be outweighing any positivity in some sectors and i am wordering how this will effect dx. there seems to have been a de-rating of dx inline with supply chain negativity etc and i wonder if this will change with the info next week.

i hope so but i'm not sure. i'm not as confident we'll hit 40p by xmas as the mood music seems pretty set for the next six months or so and the uncertainty in worlds factory of china if it continues will have a profound affect generally. you know me though... i'm a bit cautious. only a week to wait.

I'm in favour of giving Chelsea more homework...... who agrees ?

A fair point to a degree pianista. But if you drill down into the vacancies.. many depots have vacancies running into ten plus and Willenhall central hub required when I last looked needed 80 staff and it's still high. So if you work on your average of 30 per depot anything where staff are 20 Plus percent down must be having an operational effect regardless of overtime. its also interesting that there are far more nights vacancies so this is indicative of good business but nights staff are far harder to get unless the salary is really good.

Is this your homework for the next few days Chelsea?

I'm inclined to speculate a good portion will be rolled over. Vacancies over the summer have consistently been substantial. 350+. If they are filling them constantly that's either spectacular growth or a spectacularly high staff turnover rate. Even stripping out the new openings I think it's a general recruitment problem which is not just limited to logistics either.

Exactly chelsea. I would take it to mean that 'open' means open for business and at that point they should be enough trained staff onboard to make it effectively operational. i think that is a common sense way to look at it. Unfortunately there are numerous unknowns that we as investors will never find out and the detailed breakdown is never known to investors unless there is full transparency. Bearing in mind the industry in which they work and actively going after the market share of other bigger players I would think detailed transparency would be quite limited.informed and researched speculation is all we can do and make informed investment decisions on what the company tells us in addition to what the directors do.

That's true Pianista. Jamie was very bullish in both his posts it wouldn't suprise me if he was a shareholder.!!. I think its a bit daft to play it down... everyone is reporting huge difficulties and the road haulage association says the situation is critical. It's a bit niave to think Dx aren't having problems with it.

It's interesting that Dewsbury... one of the very latest openings has still has 20 vacancies currently listed. Is that because things are going tremendously well since opening or are they struggling for staff. It depends on which side you sit. But if you are here for while like me it doesn't really matter.

I think anything 3.5Tonnes and above requires a HGV license. Dx have had a substantial number of vacancies for this and weights above this for months now. I don't think the temporary visas will make the slightest difference and it's just a firefighting strategy to avoid the shortages at Xmas etc but i think it's way to late. The governments strategy is to employ more british drivers but there is also a shortage of people applying and many leaving. I think the driver problems will be around for a year and probably more.

The driver problems must in my view be affecting DX and their customers and I think the problems are far worse than people think and certainly more than the government publicly admitted.

I think what DX divulge in the results will be important and I hope they are transparent if there is quarter 1 update. It's all very well saying new depots are open but it really about the capacity they are trading at.

I know from my own business that 24 Hour deliveries from DX and others are taking anything from 1 to three days + on average and European deliveries taking much longer than usual with the added complication of Brexit VAT and Customs paperwork. I'm thankful DX don't have a great European offering.

I appreciate I'm a bit more cautious than some but I think the positivity and possible uptick on the results will be tempered by the negative sector sentiment moving forward.

Chelsea is right though. It's all speculation until the company speaks.

Although the Royal Mail update was positive it really is a different beast to DX. It has a much bigger, better and established logistics operation in place. It's primarily an automated sorting volume business and a high percentage of consumer to consumer as opposed to B2C and B2B which dominates DX's business model. But it was interesting though.

Can't see any business reason to sell.Perhaps they're just panicking with the negative sentiment or want the money for something else...there seems to be a bit of opportunity around now. Unless Directors are selling I can't see anything to worry about.

Well,I've a few spare pennies so I've started topping up. Couldn't resist under 30p.

Yep good point Chelsea.

If they are having to introduce attendance incentives to attract personnel I wonder if they will have to introduce some form company wide package. I can't imagine it would be great for morale if new recruits get it and existing people don't.

Interesting that there are approximately 80 vacancies at the Willenhall central hub listing on the website. ..mainly warehousing. And they seem to be offering a weekly £60 attendance bonus to more positions they are advertising. You could probably read number of possibilities into that. My own view is that they are not finding staffing easy.