| GBP billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 25.8 | 25.7 | 27.7 | 27.3 | 25.9 | 25.6 | −1.0% | |
| Cost of revenue | 4.4 | 4.6 | 4.8 | 4.9 | 4.4 | 4.2 | −4.7% | |
| Gross profit | 21.3 | 21.1 | 22.9 | 22.4 | 21.4 | 21.4 | −0.2% | |
| Research & development | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.1 | −65.0% | |
| Selling, general & administrative | 3.8 | 3.8 | 3.8 | 3.9 | 4.0 | 1.1 | −71.6% | |
| Selling & marketing | 1.1 | 1.2 | 1.2 | 1.2 | 1.1 | 1.1 | −1.7% | |
| Operating expenses | 11.4 | 10.9 | 12.3 | 38.1 | 18.6 | 11.4 | −38.7% | |
| Operating income | 10.0 | 10.2 | 10.5 | (15.8) | 2.7 | 10.0 | +265.4% | |
| Interest expense | 1.8 | 1.5 | 1.7 | 1.9 | 1.1 | 1.9 | +75.5% | |
| Interest income | 0.1 | 0.0 | 0.1 | 0.2 | 0.3 | 0.2 | −14.7% | |
| Other income / expense | (1.3) | (1.1) | (1.2) | (1.3) | 0.8 | (0.1) | −117.2% | |
| Pre-tax income | 8.7 | 9.2 | 9.3 | (17.1) | 3.5 | 9.9 | +178.7% | |
| Income tax | 2.1 | 2.2 | 2.5 | (2.9) | 0.4 | 2.1 | +486.6% | |
| Net income | 6.4 | 6.8 | 6.7 | (14.4) | 3.1 | 7.8 | +153.1% | |
| 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) | 2.80 | 2.97 | 2.93 | (6.49) | 1.37 | 3.51 | +156.2% | |
| EPS, diluted (per share) | 2.79 | 2.96 | 2.92 | (6.47) | 1.36 | 3.49 | +156.6% | |
| EBITDA | 11.8 | 11.2 | 12.2 | 13.3 | 7.7 | 11.8 | +52.0% | |
| Depreciation & amortization | 0.8 | 0.9 | 0.7 | 0.6 | 3.1 | 2.0 | −35.4% | |
| Weighted average shares (shares) | 2,253,664,000 | 2,253,664,000 | 2,253,664,000 | 2,221,930,000 | 2,214,000,000 | 2,187,000,000 | −1.2% | |
| Weighted average diluted shares (shares) | 2,264,664,000 | 2,264,664,000 | 2,264,664,000 | 2,229,000,000 | 2,225,000,000 | 2,199,000,000 | −1.2% | |
| Gross margin | 82.7% | 82.1% | 82.6% | 82.1% | 82.9% | 83.5% | +0.6 pts | |
| Operating margin | 38.6% | 39.8% | 38.1% | −57.7% | 10.6% | 39.0% | +28.5 pts | |
| Net margin | 24.8% | 26.5% | 24.1% | −52.7% | 11.9% | 30.3% | +18.5 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
Statements are reported in GBP; the shares trade in USD.
