MOTOR TRANSPORT TOP 100 2025

The past year has seen two clear trends across the road transport industry: consolidation, most notably in the parcels sector, and a focus on improving profitability. Czech billionaire Daniel Kr?etinsky completed his GBP3.6 billion takeover of International Distribution Services, which owns Royal Mail, while InPost has become a major player in the market with its acquisition of Yodel creating a business with sales of some GBP3.27 billion. Not only that, Evri completed its takeover of DHL eCommerce to create a GBP2.32 billion turnover business.

The intensity of competition in the parcels market is highlighted by the fact that both DHL eCommerce and Yodel have made heavy losses in recent years. And that competition is coming not only from the other major carriers but also from Amazon, which has been extending its Amazon Shipping service. Consolidation in the logistics market has been spearheaded by GXO, which finally completed its acquisition of Wincanton earlier this year.

But other Top 100 companies have also been active in the M&A market, including Expect Distribution, Gregory, Langdons, Oxalis and Ceva parent CMA CGM, which has just acquired intermodal specialist Freightliner. In parallel with this consolidation, our figures highlight the focus companies have been putting on improving returns - not surprising given the downturn seen last  year. Turnover only rose 0.4% this year but operating profit was up 25% and pre-tax profit was up 13%.

Return on capital rose from 4.4% to 4.7%. Improvements in efficiency are highlighted by the increases in both sales and profit per employee. Clearly, many companies took advantage of the small improvement in market conditions last year.

Government figures show that goods moved rose by 1% from 2023 to 2024, rising to 168 billion tonne-km. At the same time, goods lifted were up 2% to 1.59 billion tonnes, and vehicle distance was up 2% to 19.4 billion kilometres.

Fleet Data

For a listing of the largest third party and own account operators in the UK based on the number of vehicles on the O-licences go to Motor Transport Fleet Data[1]. This searchable database includes detailed information on over 1,000 fleets with 75 or more vehicles.

However, business conditions have got tougher and that is reflected in the BDO Logistics Confidence Index for 2025, which has just been released. This shows an index score of 40.4, the lowest in 14 years. BDO highlighted labour market pressures with rising hiring costs, partly caused by higher employers' NI contributions.

This reflects the economic uncertainty of the past year. The OECD's latest economic outlook report highlights the impact of global trade tariffs, disinflation and slowing GDP growth. All this suggests that further consolidation is on the cards.

It is notable that a recent study by Deloitte found that on a European level, the value M&A activity in the transport and logistics market increased for the first time since 2021. And further work on improving efficiency is in prospect. We have recorded falls in headcounts at the Top 100 companies for two years in a row.

It seems highly likely that next year we will be reporting another fall as companies focus on increasing their competitiveness.

The MT Top 100 explained

The Motor Transport Top 100 is compiled from accounts filed at Companies House and the rankings have been finalised using information available as of 9 October 2025. The table lists the company in regard to its official registered name at Companies House, which is not always the same at the company's trading name. As far as possible we have used figures generated solely or primarily from UK road transport and warehousing activities, unless otherwise stated below.

Employee figures are predominantly those employed solely or primarily in the UK. Return on capital employed has been calculated as operating profit divided by the sum of total assets minus current liabilities, expressed as a percentage. Calculating profit growth is complicated by the fact that a company can report negative values for profit.

For example, Royal Mail made a smaller loss in 2025 than in 2024 but the normal calculation gives a negative growth figure. Consequently, we use an absolute value for the denominator which better reflects the reality. Abbey Logistics Group: 2023 results are for the six months to 31 December 2023 as a result of the takeover by Sitra Invest NV in October 2023.

Advanced Supply Chain: figures reflect the performance of Advanced Supply Chain Group, excluding the results of its Advanced Forwarding international freight forwarding business. Arrow XL: 2022 accounting period is for the 18 months to 31 December 2022. The company was sold to French logistics group Jacky Perrenot in June 2025.

AIT: consists of AIT Home Delivery UK and Lubbers UK. AIT Worldwide Logistics acquired Dutch group Lubbers Logistics in February 2024. BCA Automotive: comprises Walon and ECM Vehicle Delivery Services (Cold Fell Group).

ECM became part of BCA Automotive in April 2023. We have excluded Paragon Automotive Logistics and Sensible Automotive as they do not operate any trucks. Cat UK: comprises Cat UK Vehicle Transportation (formerly Carlson Vehicle Transfer) and Cat UK Vehicle Logistics (formerly STVA).

Ceva: comprises Ceva Logistics and Ceva Ground Logistics UK. Ceva is a subsidiary of CMA CGM and a sister company of CMA CGM Inland Services UK, which we currently show separately. Constellation Cold Logistics: comprises Constellation Cold Logistics UK and Constellation Cold Logistics UK 2.

Culina Group: comprises Culina Logistics, Eddie Stobart Logistics, Great Bear Distribution, CML F&L (Telford) and Fowler Welch. We do not include iForce, Warrens Warehousing & Distribution (Midlands), Integrated Packing Services and Morgan McLernon as they do not operate any trucks. DFDS: comprises DFDS Logistics Services, McBurney Transport and Bondelivery Northern Ireland, which are the DFDS group companies holding O-licences.

DHL: comprises DHL Supply Chain, DHL International UK and DHL eCommerce UK. Employees in DHL Supply Chain are employed through DHL Services. DHL's freight forwarding business is excluded from our figures.

DHL completed the sale of DHL eCommerce to Evri on 1 October, but it is shown under DHL this year. DPD: comprises DPDgroup UK and DPDLocal. The pre-tax profit figure has been adjusted to reflect a dividend of GBP70m paid by DPDlocal to DPDgroup.

DX Group: 2024 figures are for Transit Topco Ltd. In January 2024, DX Group was acquired for GBP307.4m by HIG Capital, the ultimate owner of Transit Topco. Evri: Evri completed the acquisition of DHL eCommerce on 1 October 2025.

We have shown the impact of this in the subsidiaries table. Expect Distributon: Expect acquired Longs of Leeds in September 2025. The effect of this takeover is shown in the subsidiaries table.

Gist: 2023 figures are for 65 weeks to April. Gregory Trading Holdings: new name for main Gregory company. Gregory took over John Mitchell (Grangemouth) in May 2025.

This is not included in the main table as the two companies were separate in the accounting period covered, but the impact is shown in the subsidiary table. GXO Logistics: GXO Logistics UK II is the new name for Clipper Logistics, which became part of GXO in June 2022. Wincanton was taken over by GXO in April 2024 and the deal confirmed in June 2025.

It is shown separately in the main table, while the impact of the takeover is shown in the subsidiaries table. As a result of the takeover, Wincanton's latest figures are for the nine months to 31 December 2024. Figures for GXO Logistics Drinks are consolidated into the accounts for GXO Logistics UK.

H Sivyer Transport: year-end change.

2023 figures are for nine months to 31 December 2023. InPost: owns Yodel Delivery Network and InPost Distribution (the former Menzies Distribution business). Also has a 30% stake in Menzies Distribution Solutions (the former Bibby Distribution business).

The three businesses are shown separately in the Top 100 this year. The impact of InPost's acquisition of Yodel is shown in the subsidiaries table. Yodel's 2022 accounting period is for the 18 months to 31 December 2022.

Its RoCE figure has been ignored as it is based on a negative figure for capital employed. John G Russell Transport: group figures including Carntyne Transport. Kinaxia: the main entry is for Kinaxia Ltd.

We have included a separate table in subsidiaries to show the figures for the constituent companies. Knowles Logistics: new name for Knowles Transport following acquisition of Masters Logistical Services in October 2022. Kuehne+Nagel: for 2024, turnover is derived from its contract logistics business (as reported by Kuehne + Nagel Ltd).

Turnover from its freight forwarding business is excluded to reflect the domestic road freight related contributions to the business. However, as K+N does not split the two divisions into legal entities, we are unable to break down pre-tax profit, capital employed and employee numbers in the same way. Therefore profit and employee figures include the international freight forwarding business.

Langdons: part of French group Stef. Acquired Long Lane Deliveries in August 2024. The figures have not been combined in the main table this year, but the effect can be seen in the subsidiaries table.

Lenham Storage: comprises Lenham Storage and Lenham Storage Southern. Lomas Distribution: 2024 accounts are for 18 months to 29 January 2024. Oxalis Logistics UK: acquired DHL's 49% stake in Fuels Transport & Logistics Ltd in April 2024 giving it 100% of the business.

The two companies are shown separately in the tables this year and the effect of the deal is shown in the subsidiaries table. Pentalver: comprises Pentalver Transport and Pentalver Cannock. Pentalver is a subsidiary of Freightliner.

Royal Mail: UK parcels and post business of International Distribution Services. IDS only gives return on capital figures for the whole group, not just UK operations. Parcels accounted for GBP4.29bn of domestic revenue in the year to March 2025, while letters accounted for GBP3.94bn.

GLS, IDS's international parcels business, accounted for GBP4.93bn of revenue. Schenk UK: new name for Suttons Tankers. Latest figures are for eight months to 31 December 2024.

XPO: comprises XPO Transport Solutions UK and XPO Bulk UK.

We have excluded XPO Global Forwarding and XPO Maintenance UK to reflect turnover and profit derived from domestic road freight.

Top 100 to Fleet Data

For a listing of the largest third party and own account operators in the UK based on the number of vehicles on the O-licences go to Motor Transport Fleet Data[2].

This searchable database includes detailed information on over 1,000 fleets with 75 or more vehicles.

References

1. ^ Fleet Data (motortransport.co.uk)
2. ^ Fleet Data (motortransport.co.uk)