Royal Mail (GB:IDS) has released an update.
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International Distribution Services plc reported robust trading for Q1 2024, with Royal Mail and GLS experiencing good volume and revenue growth despite a challenging economic climate. Royal Mail saw an 11% increase in parcel volumes and a 10.1% rise in revenue, alongside a push for urgent regulatory reform of the Universal Service. The company also highlighted its commitment to sustainability and efficiency, such as reducing air miles and transitioning to rail services, while the Board recommends shareholders accept a cash offer from EP UK Bidco Limited.
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