Member Info for portswigger

It will be interesting if we get there Pianista. Everything for the foreseeable has been sign posted but that's quite an increase. Trading is good and if its maintained and a dividend is declared it will certainly increase demand and interest even though its a low margin business. If we start a share buyback policy which I think is a possibility in financial year 23/24 I'd be a little more confident. Of course if the Ukraine situation follows it's current trajectory I think the world economy is in for a seismic shock and then anything could happen at anytime.The shifting sands of the macro economic picture could far outweigh anything that DX does.

Probably P, I wasn't aware he's exercised them all and thought some were left. I think there are still 32m outstanding generally.

Please to see Paul appointed CEO.. he was the stand out internal candidate but no idea why it's taken so long. Trading has been good with strong cash generation which means we should be pretty much nailed on for the targeted dividend if trading continues this way. We can expect confirmation of the new depot openings. Interested to see when Lloyd exercises his share options as he will be fully aware of what's going on as his son is still in position as sales director. Not surprised the SP is doing nothing so far ... this is the aim and it's all part of parcel on this exchange but the future on the face of it looks pretty good.

I don't know FJ.. maybe. I find it hard to believe there is a shortage of suitable applicants for financially sound growing business on the verge of paying a dividend. Not withstanding the idw specialism, there is planned growth in parcels and i'm sure the calibre is out there but what do i know. The DX ceo package is quite a handsome one.

Trades are showing a 3.7m share buy today. Interesting if true.

Well reducing by 1% is neither here or there unless they continue to sell. Still can't get my head round the pregnant silence regarding the new CEO.. It's not far short of 5 Months since Lloyd went. have they appointed?... can't they get anyone? are the two MD's not felt up to it? or is the 12% holding of the ex - CEO casting a shadow. Gatemore and Lloyd are pretty close and they now hold a third of the business together... umm !

Some quite substantial trades today amounting to 1.6M shares in a few transactions. Probably buys but not a 100%. Is Lloyd
Increasing again.?

Well.. Happy New Year to all DX shareholders !

This time last year DX shares had just been suspended and we were all speculating how long the suspension would be. I for one didn't think it would be anything like as long as nine months. Alternative theories were presented about various ulterior motives but nothing came to fruition whether it was talked about or not. We are now in a position of a substantial board change with the mysterious absence of any communication about a CEO and DX following the much talked about same strategy. The financials are healthy and the only real worry apart from the economic situation is the dilution due to the very substantial share options still outstanding. Hopefully DX will continue to trade well and generate continued free cash to offset this dilution to some degree and if we do hit the targeted dividend for financial year ending July2023 I think we can all be pretty pleased.

Well still no news about the CEO. Perhaps there has been a delay until the appointment of the new chairman. It seems like DX are progressing quite nicely without one. Maybe we'll hear something prior to or at the AGM.

It's going to be interesting to see how the various issues play out next year . It seems that IDS problems are set to continue which does create opportunities for other carriers.

As of April 2023 new customer service guidelines are being introduced by the regulator regarding complaints and customer service. It's generally admitted industry wide that Customer service is pretty poor and improvements have to made. Apparently there is talk of sanctions and fines etc. All very good from another "talking shop" so its debatable if it has any effect.... but outstanding customer service is a DX manta so ?

Interesting that the low cost carrier Evri is struggling with deliveries. Personally I think the market is going to "mature" in the next years away from pile it high, low margin, zip customer service and DX should be able to exploit that.

I'm more in tune with DX's strategy than I have been for a while.

Time for a break from me, so best wishes to fellow shareholders for the festive season.

Do those with industry experience know which national carrier Smiths News is currently partnering with regarding parcel deliveries. It would certainly be complimentary for DX's next day offering. !

Deep... I'm not sure If I or anyone can help but for what is worth this is my view. If and it's a big if DX trade until year end July 2023 in line with forecasts and expectations then we are looking at a targeted dividend of 1.5p. If they achieve that after their starting position in 2017 I for one would be impressed.In the current climate profitability, reinvestment, growth is to be admired. Dx have been pretty consistent in their strategy since I have been a shareholder and I think it's quite telling that the institutions have stayed on board and despite the last years mess we as shareholders have a clearer picture of where DX is heading.
The share price is subject to sentiment and there are all sorts of influences on that which we all know. I have no idea what it will do. Personally, I don't see huge growth in that because I can't see how that growth is going to come. There isn't going to be a sudden spike in demand, its not that type of company.55p a share would value the company at 300m and I think that's along way off. The macro economic picture has changed and it is a very uncertain future. If DX are making money, paying a dividend I for one would be a happy shareholder.

Yes deep it does put it in perspective. It’s still pretty incredulous to me. The had a solicitor on the staff payroll and there is still 1.6m in costs. What advice were they being given for 1.6m when they swept it under the carpet for months saying they didn’t recognise GT concerns. It’s laughable that experienced businessmen on handsome salaries and in Lloyds case 6k plus per week can make such stupid errors in my opinion. Anyway it’s water under the bridge now. Let’s hope the new incumbents can bring a bit of professionalism to DX.

Well, I've had a read of the very positive annual report and forecasted growth. All seems good.

I've said it before but 1.6M in legal and advisory costs for the corporate governance shambles for in my opinion schoolboy errors.Not sure Lloyd who presided over the share price suspension for 9 months deserved his 100K bonus. At least he didn't get his 100% of salary bonus. Whats going on with the appointment of a new CEO DX ??. Its nearly three months since Lloyd went. !

Yes Pianista. Hopefully it has been taken into account by the markets. But as Sister has alluded to there are a lot of needs to be attended to : the holders of the share options, institutional Investors, share price growth and the expansion of the business and dividend which puts pressure on DX. I don't dispute DX have had a good year but they are still talking a very good game as conditions are set to get much tougher. They seem confident in their plan, so of course I respect that and hopefully they'll achieve the 1.5p targeted dividend. If they do all things considered I think it will quite an achievement.

The share options is quite a puzzle for DX. The generous options and plan have been put in place to reward those who successfully turn the company around unbelievably well but it means dilution for us all. That needs to be balanced with the capital allocation policy and a desire for the share price increase. Not an ideal situation.

Well, all credit to DX. Despite the distraction of the CG issue last year they have produced an excellent set of results. Freight is shooting the lights out and Dx express despite my concerns has performed better than expected. Increases in margin and proftability. The strategy is clarified with continued expansion and capacity and a capital allocation policy that is more in tune to shareholders interests.We can thank Gatemore for that. Things are never as good as they seem in my experience but after the year we have had we can all have a smile on our faces this morning.

Well DX and Ron Series have managed the PR. Inevitable really. But pointedly no mention of Ron Series share options ?

Just like 2017 Gatemore now have their team in place. Will Lloyd Return ?

I thought it was the 2nd half of November Pianista. Perhaps I missed a specific date. I'd be surprised if its buying based on the figures release as they had already sign posted the positive figures at a lower price. Perhaps those further up the information chain know something but there was some positivity flying around generally on Friday. DX seem to be on an even keel and financially sound and there is a lot to be said for that at the moment. If the prophets of doom are correct its going to be bloodbath next year for those companies not making any money or with barely any wool on their back. Just look at what's happened to Joules today.

I don't know sister. 35p represents a 50% increase on the current level. That's alot.There is no unwritten rule that the sp should return to it's pre suspension levels. Things have changed dramatically since then. Let's hope the "herd"doesn't come to DX, the market makers would be rubbing their hands in glee and it then becomes a trading rather than investing game. I do take comfort that DX has been making money and look forward to the results later this month. If they do follow through on the dividend/share buying strategy then I'm happy to stick around for a few years.

Good Luck FJ. I've enjoyed your contributions. Not agreed with everything you've said but always interesting. !

I am not sure I understand your point e-mail. I never said DX was doing badly.The point I was trying to make in rather vague way was that business/financial success does not correspond to share price increases. Business success only affects sentiment as sentiment is the determinant of share price. No one is piling into DX and no one has been since the very positive RNS, Positive free cash, share buy back ,promises of dividend, expansion.etc, etc. Macro sentiment trumps everything. Dx may well produce good figures later this month and the SP may hit 25p.Next day Putin drops a nuclear bomb on Ukraine and the share price will drop at least 50% plus on global sentiment.