DX has detailed that it has experienced a slow and steady recovery in trading since 16 April. While group sales are still down 10% to 15% below previously expected levels, this is better than the 33% decline seen at the start of the lockdown. Customer activity has started to improve and DX has adapted, focusing more on B2C than normal with a continued focus on customer service and cost control. We have upgraded our FY 2020E LBT by £2m to -£0.9m, which splits as -£1.7m in H1 ....