International Distributions Services Posts FY Loss

International Distributions Services plc (IDS.L) reported that its loss for the 52 weeks ended 26 March 2023 was 873 million pounds or 91.3 pence per share compared to a profit of 612 million pounds or 61.4 pence per share in 52 weeks ended 27 March 2022.

Adjusted loss per share was 20.5 pence compared to adjusted earnings per share of 59.7 pence in the prior year.

Group operating loss was 748 million pounds compared to operating profit of 577 million pounds last year, reflecting the impairment charge in Royal Mail in addition to business performance during the year.

Revenue for the year declined to 12.04 billion pounds from 12.71 billion pounds in the prior year, hurt by the decline in Royal Mail.

The Board has decided not to pay a final dividend in respect of 2022-23.

The trading environment continues to be uncertain for both Royal Mail and GLS. All of markets are impacted by a challenging global economy, including high levels of inflation and expectations of lower future economic growth. Against that backdrop, IDS is targeting a Group adjusted operating profit in 2023-24.

In a separate press release, International Distributions Services said that it appointed Ingrid Ebner has been as a Non-Executive Director of the company, to take effect from 1 July 2023. Ingrid will also become a member of the company’s Nomination Committee from this date.

Ingrid is currently the Vice President, Global Fulfilled by Maersk Standards and Regional Delivery IMEA & LAM of A.P Moller-Maersk, and reports to the Executive Committee.

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