The deal to sell Royal Mail looks as if it is moving to a conclusion.
The Board of Directors of ‘International Distributions Services plc’(IDS), which is the group that owns both Royal Mail and GLS, has recommended that a proposed revised offer from EP Group be accepted.
Its small parcel service, Yu-Pack saw a 3.0% increase in volumes that didn’t offset the volume declines in mail.
Double digit volume growth in nearly all segments bar logistics belied far smaller revenue growth across the board for Aramex in Q1.
The new parcels offering USPS Ground Advantage helped improve revenues and reduce net losses in Q2 for USPS
The European road freight rates index shows Q1 rates fell in both the spot and contract markets, with the spot rate index down 8.2 points year on year.
Growth in the US trucking sector appears to be reasonable if XPO’s latest results are any indicator.
The Connecticut based road freight specialist announced first quarter numbers that saw revenue increase 5.8% to US$2bn and operating income rise 137.9% at US$138m.
The European road freight capacity index decreased for fourth month in a row, falling by 3.6% year-on-year in April 2024, according to the latest data by Transporeon.
NYK appears to have had a reasonable Financial Year 2023 (FY 2023), with profits falling year-on-year largely due to the ‘return to normality’ seen in many logistics markets.
A 14.1% growth in revenue to €758.6m and operating profit growth of 8.7% y-o-y to €103.4m has put Austrian Post in a strong position.
Business wins worth an annualised $250m helped global pure play contract logistics player GXO Logistics to a 5.7% y-o-y growth in revenues
Ongoing costs associated with the USO and a new labour agreement has led to operating profits at PostNL fall to minus €9m in Q1.
Maersk’s results for the first quarter of 2024 are complex due to the variety of different market problems affecting the company. For the whole Group, revenue fell on a year-on-year basis by 13% to US$12.3bn whilst EBIT (Earnings Before Interest and Tax) crashed to $177m from $2.3bn in Q1 2023.
