Britain's International Distribution Services said today its revenue inched 0.8% higher during the busy Christmas period as its Royal Mail business handled more international parcels.
Royal Mail remains on track to return to adjusted operating profit before voluntary redundancy costs this fiscal year, despite difficult market conditions in the UK, the company said.
Separately, IDS said in a statement that its £3.57 billion takeover by Czech billionaire Daniel Kretinsky received regulatory clearance by Europe and the US.
The deal was approved by the British government in December and is expected to close in the first quarter of this year.
IDS, which will be delisted from the London Stock Exchange after the deal closes, said in November it expected costs to rise following the UK budget, saying it could not rule out price hikes and increased automation to cut costs.
Group revenue in the three months ended December rose 0.8% to £3.62 billion, as strength in Royal Mail offset weakness in GLS, its international unit.
