Parcel locker operator InPost has doubled its revenue in the UK market YOY to £48.3m for the third quarter of 2024, marking its highest quarterly earnings to date.
The company said its increase was driven on the back of its product mix, supported by rapid network expansion and logistics improvements.
UK parcel volumes accelerated significantly, growing by 88% YOY to reach 25.1m. The company attributed most of the growth to the high customer to customer (C2C) segment, which remains the largest contributor to volume in the UK.
The Q3 results highlighted the locker-to-address delivery service as one of the fastest growing services, growing 215% YOY, on a low base.
To support this demand and enhance service quality, InPost started a partnership with Yodel for to-door deliveries from lockers, alongside Royal Mail.
As part of the partnership InPost also invested with other partners to back up Yodel’s plans and secure future to-door delivery options in the UK for InPost.
The company’s UK network now boasts over 11,800 OOH points, representing a strong 72% year-on-year growth. This includes 8,400 locker machines, reinforcing InPost’s status as the leading APM network in the UK.
Notably, its ability to deploy additional lockers has accelerated each month this year, resulting in the addition of nearly 2,000 machines YTD.
As a result, 65% of the population in the top three cities can now reach an InPost locker within a seven-minute walk, up from 58% at the end of Q3 2023.
Rafał Brzoska founder and CEO of InPost Group commented: “In the UK, we achieved record high volumes and good margins. Our recent acquisition of Menzies enables us to fully control UK logistics, enhancing our service offering with high-quality, next-day B2C delivery capabilities.
As we head into the important fourth-quarter peak, we are relentlessly focused on keep delivering with the best user experience and quality, and to capitalise on the continued volume momentum we’re seeing into Q4.”
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