| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 230.1 | 543.3 | (235.9) | 606.2 | 502.6 | 235.1 | −53.2% | |
| Depreciation & amortization | 0.2 | 0.2 | 0.2 | 0.0 | 0.0 | 0.0 | — | |
| Stock-based compensation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Change in working capital | (0.4) | (2.3) | (4.3) | 1.6 | (2.3) | (0.4) | +84.5% | |
| Operating cash flow | 24.1 | 35.8 | 64.3 | 47.0 | 37.4 | 63.4 | +69.3% | |
| Capital expenditure | 0.0 | 0.0 | 0.0 | 0.0 | (4.9) | 0.0 | +100.0% | |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 177.6 | 0.0 | −100.0% | |
| Investing cash flow | 32.8 | 100.4 | 281.3 | 110.5 | (5.1) | 226.6 | +4535.6% | |
| Dividends paid | (46.5) | (52.7) | (71.1) | (71.4) | (82.4) | (110.0) | −33.5% | |
| Share buybacks | (59.8) | (131.5) | (149.0) | (88.1) | (57.0) | (223.6) | −292.3% | |
| Debt issued / repaid | 79.7 | 35.3 | (117.3) | 12.1 | 45.9 | 0.0 | −100.0% | |
| Financing cash flow | (33.3) | (156.4) | (345.8) | (157.6) | 67.1 | (350.1) | −621.9% | |
| Free cash flow | 24.1 | 35.8 | 64.3 | 47.0 | 37.4 | 63.4 | +69.3% | |
| Net change in cash | 15.2 | (24.2) | 0.3 | (3.9) | 97.8 | (61.6) | −163.0% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
