| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 449.4 | 972.6 | (599.4) | 70.0 | 445.5 | 363.3 | −18.5% | |
| Depreciation & amortization | 4.5 | 5.4 | 1.7 | 4.4 | 4.9 | 0.9 | −81.6% | |
| Stock-based compensation | 8.3 | 8.2 | 7.2 | 0.0 | 0.0 | 0.0 | — | |
| Change in working capital | 11.7 | 15.9 | 5.3 | 8.0 | (33.4) | 41.2 | +223.4% | |
| Operating cash flow | 137.6 | 196.1 | 177.4 | 185.3 | 195.4 | 252.5 | +29.2% | |
| Capital expenditure | (130.0) | (4.2) | 0.0 | 49.0 | 0.0 | (252.5) | — | |
| Acquisitions | (0.7) | (0.5) | (2.8) | (66.9) | (8.1) | 0.0 | +100.0% | |
| Investing cash flow | (150.2) | (327.3) | (302.1) | (67.2) | (82.3) | (801.2) | −873.5% | |
| Dividends paid | (109.6) | (114.3) | (129.2) | (135.3) | (174.1) | (199.8) | −14.8% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | 196.2 | 0.0 | 267.0 | 2.0 | 162.0 | 770.7 | +375.7% | |
| Financing cash flow | 49.0 | 144.5 | 101.2 | (81.3) | (68.7) | 577.6 | +940.8% | |
| Free cash flow | 7.6 | 191.9 | 177.4 | 185.3 | 195.4 | 255.0 | +30.5% | |
| Net change in cash | 36.4 | 13.3 | (23.5) | (11.2) | 44.4 | 50.0 | +12.6% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
