Royal Mail has reported its first annual profit in three years, marking a turnaround since its £3.6 billion takeover by Czech billionaire Daniel Křetínský’s EP Group.
Parent company International Distribution Services (IDS) said the postal operator made a £194 million pre-tax profit in the year to March, compared with a £143 million loss the year before, helped by rising parcel volumes and tighter cost control.
Chief executive Martin Seidenberg described it as a “year of change” but warned reforms would take time.
The regulator approved cuts to second-class deliveries, but Seidenberg said the pilot, covering 35 delivery offices, would take “many months” to roll out nationwide, continuing into 2026.