Royal Mail parent International Distribution Services (IDS) announced on Monday that its parcel services subsidiary, GLS, would sell its US freight divisions to California-based DC Logistics. The move was part of GLS’ strategic focus on enhancing its core parcel services. According to Reuters, the divestment would include GLS US Freight …
Read More »Royal Mail parent IDS posts uptick in Q1 revenues, appoints Seidenberg as CEO
Royal Mail parent International Distribution Services said on Thursday that it was still targeting an adjusted operating profit for the year, as it announced the appointment of Martin Seidenberg as its new chief executive officer. In an update for the three months to the end of June, the company said …
Read More »Britain’s Royal Mail posts losses of 419 million pounds
IDS, which includes Royal Mail UK and international operations GLS, reported a group adjusted operating loss of 71 million pounds for the year ended March 26, compared with a profit of 758 million pounds a year earlier. Analysts on average had expected a loss of 114 million pounds, according to …
Read More »Royal Mail boss to quit weeks after agreeing pay deal with striking workers
R oyal Mail boss Simon Thompson has announced plans to quit, weeks after the postal delivery firm agreed a new pay deal with striking staff. Thompson will leave the role on 31 October. The board of Royal Mail, which was privatised in 2013, is “in advanced stages of appointing a …
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