| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 178.0 | 382.0 | 462.9 | 200.2 | 398.6 | 111.1 | −72.1% | |
| Depreciation & amortization | 0.9 | 1.0 | 1.0 | 1.3 | 1.5 | 1.5 | +0.0% | |
| Stock-based compensation | 4.7 | 8.6 | 8.6 | 3.5 | (0.3) | 2.0 | +766.7% | |
| Change in working capital | 4.2 | 10.1 | 0.2 | (12.4) | (1.7) | 1.3 | +176.5% | |
| Operating cash flow | 75.7 | 97.0 | 109.8 | 98.0 | 95.9 | 99.9 | +4.2% | |
| Capital expenditure | (1.3) | (1.0) | (96.2) | (121.9) | (120.1) | (3.1) | +97.4% | |
| Acquisitions | (14.2) | (1.9) | (110.3) | (2.3) | (2.5) | 0.0 | +100.0% | |
| Investing cash flow | (77.6) | (66.2) | (200.9) | (124.2) | (122.6) | (142.1) | −15.9% | |
| Dividends paid | (37.7) | (42.6) | (56.9) | (65.9) | (65.9) | (66.6) | −1.1% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | 25.7 | 36.3 | 132.1 | 101.3 | 111.6 | 105.2 | −5.7% | |
| Financing cash flow | (12.0) | (6.3) | 69.0 | 22.3 | 35.4 | 28.3 | −20.1% | |
| Free cash flow | 74.4 | 96.0 | 13.6 | (23.9) | (24.2) | 96.8 | +500.0% | |
| Net change in cash | (13.6) | 23.6 | (22.3) | (4.0) | 8.4 | (14.3) | −270.2% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
