DX (Group) PLC (LON:DX.) had more bad news for shareholders as it warned an accounting error would knock £1.8mln off its profits for the year just ended.
The struggling logistics group said the error was an incorrect application of accounting policies relating to lease incentives at one of its sites.
Under the correct accounting treatment, the £1.8m lease incentive will be credited back over the remaining 10 year term of the lease.
Shares in the struggling logistics group recently returned from suspension as a planned merger with John Menzies’ distribution business collapsed.
DX has also changed its management and reorganised into two divisions, the costs of which will borne in the upcoming results.