| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (38.8) | (30.2) | 1.7 | 10.1 | 19.3 | 24.6 | +27.5% | |
| Depreciation & amortization | 11.4 | 11.9 | 12.8 | 15.3 | 15.1 | 12.7 | −15.9% | |
| Stock-based compensation | (0.6) | 2.8 | 4.7 | 1.2 | 2.3 | 0.0 | −100.0% | |
| Change in working capital | (58.0) | 31.2 | 31.7 | (4.1) | (4.3) | 11.3 | +362.8% | |
| Operating cash flow | (93.5) | 13.6 | 52.0 | 22.0 | 26.9 | 43.4 | +61.3% | |
| Capital expenditure | (5.2) | (5.1) | (12.4) | (0.1) | (10.3) | (43.4) | −321.4% | |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 2.6 | — | |
| Investing cash flow | (5.0) | (5.0) | (12.1) | (7.9) | (2.6) | (7.8) | −200.0% | |
| Dividends paid | (2.6) | 0.0 | 0.0 | 0.0 | (1.5) | (4.9) | −226.7% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (30.9) | — | |
| Debt issued / repaid | 0.0 | (0.6) | (0.7) | (1.5) | (1.8) | 0.0 | +100.0% | |
| Financing cash flow | 61.9 | 23.3 | (0.7) | (2.8) | (5.6) | (37.2) | −564.3% | |
| Free cash flow | (98.7) | 8.5 | 39.6 | 21.9 | 16.6 | 24.4 | +47.0% | |
| Net change in cash | (36.5) | 19.5 | 8.5 | 11.3 | 20.4 | (1.2) | −105.9% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
