| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 339.6 | 606.8 | 825.4 | 788.9 | 788.2 | 739.2 | −6.2% | |
| Cost of revenue | 193.1 | 340.2 | 471.1 | 408.4 | 433.8 | 481.5 | +11.0% | |
| Gross profit | 146.5 | 266.6 | 354.3 | 380.5 | 354.4 | 257.7 | −27.3% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 71.5 | 107.9 | 140.4 | 111.5 | 121.2 | 122.4 | +1.0% | |
| Selling & marketing | 13.2 | 23.0 | 42.5 | 40.0 | 37.8 | 36.2 | −4.2% | |
| Operating expenses | 82.0 | 123.9 | 152.1 | 206.0 | 220.7 | 122.0 | −44.7% | |
| Operating income | 64.5 | 115.3 | 188.6 | 174.5 | 133.7 | 135.7 | +1.5% | |
| Interest expense | 3.0 | 7.8 | 18.7 | 36.0 | 31.6 | 30.4 | −3.8% | |
| Interest income | 0.5 | 0.3 | 0.1 | 0.9 | 1.3 | 0.7 | −46.2% | |
| Other income / expense | 0.0 | (7.5) | (18.6) | (36.4) | (30.5) | (47.9) | −57.0% | |
| Pre-tax income | 52.0 | 107.8 | 170.0 | 138.1 | 103.2 | 87.8 | −14.9% | |
| Income tax | 7.7 | 41.7 | 47.8 | 24.7 | 26.4 | 21.5 | −18.6% | |
| Net income | 44.3 | 66.1 | 122.2 | 113.4 | 76.8 | 66.3 | −13.7% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| EPS, basic (per share) | 0.46 | 0.59 | 1.01 | 0.95 | 0.67 | 0.63 | −6.0% | |
| EPS, diluted (per share) | 0.45 | 0.58 | 1.01 | 0.94 | 0.67 | 0.62 | −7.5% | |
| EBITDA | 85.1 | 200.1 | 269.1 | 253.9 | 214.7 | 189.5 | −11.7% | |
| Depreciation & amortization | 30.1 | 57.4 | 80.4 | 79.8 | 83.6 | 71.3 | −14.7% | |
| Weighted average shares (shares) | 95,553,034 | 111,463,911 | 120,505,969 | 119,786,409 | 114,355,263 | 105,792,764 | −7.5% | |
| Weighted average diluted shares (shares) | 97,579,683 | 113,711,844 | 121,158,656 | 120,550,165 | 115,051,713 | 106,745,849 | −7.2% | |
| Gross margin | 43.1% | 43.9% | 42.9% | 48.2% | 45.0% | 34.9% | −10.1 pts | |
| Operating margin | 19.0% | 19.0% | 22.8% | 22.1% | 17.0% | 18.4% | +1.4 pts | |
| Net margin | 13.0% | 10.9% | 14.8% | 14.4% | 9.7% | 9.0% | −0.8 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
