The Royal Mail returned to profit on an adjusted basis for the first time in three years after it increased volumes through automation and locker deliveries, as well as cutting costs.
The results at International Distribution Services (IDS), which owns Royal Mail and the far smaller Netherlands-based parcel group GLS, provide a boost to Czech billionaire Daniel K?etínsky, whose EP Group completed its ￡5.3bn takeover of the company in June.
Royal Mail made an adjusted operating profit of ￡12mn, its first since the year to March 2022. Including voluntary redundancy costs, it reported operating losses of ￡8mn, against a ￡348mn loss for the year to March 2024, on revenue up 7 per cent to ￡8.23bn.
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