Key points
Group revenue was £6.45 billion, up 1.6% on the same period last year.
Royal Mail revenue increased 1.5% to £3.98 billion year-on-year. Total parcel volumes saw strong growth of 5% to 661 million, led by both international and domestic growth.
GLS revenue was up 1.9% to £2.48 billion. Parcel volumes increased 3% to 460 million.
Solid first half performance with accelerated progress on multi-channel shop and locker strategy across Royal Mail and GLS.
International Distribution Services (“IDS”) this week announces its half year results for the period ended 28 September 2025. Group revenue was £6.45 billion, up 1.6% on the same period last year (up by 2.6% excluding the impact of the 2024 UK general election).
Royal Mail revenue increased 1.5% to £3.98 billion year-on-year. Excluding UK general election mail in 2024, revenue was up 3.0%. Total parcel volumes saw strong growth of 5% to 661 million, led by both international and domestic growth. Addressed letter volume (excluding elections) was down 10%.
GLS revenue was up 1.9% to £2.48 billion. Parcel volumes increased 3% to 460 million.
The first half of the year saw a rapid acceleration in the expansion of our multi-channel shop and locker options for our customers worldwide. GLS grew its out of home network by more than 40% year-on-year to 125,000 parcel points and Royal Mail cemented its position as the UK’s largest out of home network with over 24,000 parcel points, the acquisition of a 49% stake in Collect+ and the launch of the Royal Mail Shop brand.
Performance is set against a backdrop of rising costs and macroeconomic pressures which are expected to continue into 2026. These include National Insurance contribution increases of c.£120 million, increased wage costs in the UK business and complexities in the global trading environment.
Martin Seidenberg, Group Chief Executive Officer, said: “IDS delivered another solid performance in the first half of the year. Customer needs are changing faster than ever and we are responding by rapidly expanding our multi-channel shop and locker network across Royal Mail and GLS. We’re not stopping there – we’ve set ourselves the ambitious target to reach 45,000 Royal Mail parcel points by 2030 and will continue to grow GLS parcel points beyond the current base of 125,000 to make life even more convenient for our customers worldwide. “I would like to thank our people for continuing to build on our momentum. We never underestimate the important role we play at Christmas and we are hiring more people, opening temporary parcel sorting centres and putting more vans on the road to deliver for our customers again this year.”
Operational highlights
Royal Mail
UK’s largest out of home network with over 24,000 parcel points, strengthened by the acquisition of 49% stake in Collect+. Almost 8,000 Collect+ convenience stores will be branded Royal Mail Shop.
Ambition to almost double out of home network to 45,000 locations by 2030, including shops, lockers and parcel postboxes. Aim for people in urban areas to be a five-minute walk from a parcel point and in rural locations no more than a 15-minute drive.
First international postal operator to launch new US services ahead of significant customs changes in August.
Piloting Universal Service changes in 35 delivery offices and aim to commence further roll out from early 2026.
Gearing up for the busy Christmas period with the recruitment of 20,000 temporary workers, 7,000 new vans and the opening of four seasonal parcel sorting centres with an additional 118,000 square metres of extra space, equivalent to 16.5 football pitches.
GLS
Volumes grew year-on-year in both domestic and international, driven by strong B2C momentum and stable B2B performance. GLS continues to outpace the market in most geographies and has strong momentum with its international business, including both pan-European cross-border and promising uptake of the recently launched global shipping solution. Macroeconomic and regulatory environment in Germany and Italy remains challenging.
Strategy focused on strengthening parcel delivery backbone, driving market leadership in cross-border, reinforcing GLS’ position as the B2B quality leader and delivering a premium last-mile experience in B2C with a leading out of home network.
Out of home delivery accelerating across Europe, with the GLS network (including partners) growing over 40% year-on-year to 125,000 locations, strengthening delivery flexibility and convenience.
Accelerating innovation to further increase competitiveness by optimising last mile operations to boost driver productivity, enhancing customer experience through apps and customer portals that deliver greater convenience, transparency and flexibility and unlocking operational efficiency in hubs and depots through AI and robotics.
Ready to deliver at full strength this peak season with increased linehaul capacity, extended operating hours, temporary sorting facilities and additional seasonal delivery partners.
Financial Summary
