DX has announced that tough trading, cost and pricing pressures will significantly impact FY17 profitability. As a consequence, EBITDA is cut by 53% to £9.0m (previously £19.0m) leading to earnings declining 84%. As a result, the business has suspended the dividend, forecasts had previously assumed 2.5p in each year of the forecast period. Net debt increases to c. £21.0m from £5.7m previously. Today’s warning is particularly disappointing coming shortly after the
07 Feb 2017
Mix impact of new business wins leads to downgrades and dividend cut
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Mix impact of new business wins leads to downgrades and dividend cut
- Published:
07 Feb 2017 -
Author:
Andy Hanson -
Pages:
7
DX has announced that tough trading, cost and pricing pressures will significantly impact FY17 profitability. As a consequence, EBITDA is cut by 53% to £9.0m (previously £19.0m) leading to earnings declining 84%. As a result, the business has suspended the dividend, forecasts had previously assumed 2.5p in each year of the forecast period. Net debt increases to c. £21.0m from £5.7m previously. Today’s warning is particularly disappointing coming shortly after the