Royal Mail (GB:IDS) has released an update.
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International Distribution Services plc (IDS), formerly known as Royal Mail, reported a revenue increase to £12,679 million and an operating profit of £26 million after a previous year’s loss of £742 million, signaling a significant turnaround. The company’s parcel delivery arm, GLS, showed robust growth and strategic investment, despite inflationary pressures. Royal Mail is nearing breakeven, driven by a strong second-half performance in letter revenue and parcel recovery, and is proceeding with its modernization plans to enhance service quality and efficiency.
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