City Link parent Rentokil Initial is optimistic the troubled parcel carrier is on the road to recovery despite its latest results showing losses increased in the first three months of the year. In his statement to the market, Rentokil Initial CEO Alan Brown, says City Link losses were higher than the previous year but that performance of the business improved through the first quarter as its new management team started to implement their plans. Brown adds: “We expect a significant […]
Last week the MT Tracker took a break as it was judging the MT Awards – but what a difference a week makes. Rentokil finally sold City Link, to investment house Better Capital. This does make a big difference to the MT Tracker as Rentokil’s size, in comparison to every other listed transport firm, was distorting the results of the Tracker. Excluding Rentokil gives us a much truer picture of investor sentiment in the sector.
City Link has rolled out a dedicated new livery for its Sameday fleet, featuring the strapline ‘when tomorrow is too late’ to help strengthen the operation’s brand. The parcels firm says the Sameday service has expanded rapidly in the past 12 months, with new contract wins across multiple business sectors, and that “this trend shows no sign of slowing down”. Two new depots were opened in Bristol and Newcastle during 2011 to cope with customer demand, with further sites earmarked […]
City Link has ordered 85 new Lawrence David single-decker trailers in the second stage of its strategy to update 40% of its trailer fleet by the summer.