| GBP billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12.0 | 12.8 | 14.4 | 14.8 | 14.7 | 13.6 | −8.1% | |
| Cost of revenue | 10.0 | 10.6 | 11.9 | 12.3 | 12.3 | 11.4 | −7.2% | |
| Gross profit | 2.0 | 2.2 | 2.5 | 2.5 | 2.5 | 2.1 | −12.4% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 4.3 | 1.0 | 1.2 | 2.0 | 1.1 | 1.8 | +55.3% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −100.0% | |
| Operating expenses | (0.3) | 1.0 | 1.2 | 2.0 | 1.1 | 1.8 | +56.7% | |
| Operating income | 2.3 | 1.2 | 1.4 | 0.5 | 1.3 | 0.4 | −71.2% | |
| Interest expense | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | −15.6% | |
| Interest income | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | +0.0% | |
| Other income / expense | (5.1) | (0.3) | (0.2) | (0.2) | (0.3) | (0.3) | +14.6% | |
| Pre-tax income | (2.8) | 1.0 | 1.2 | 0.3 | 1.0 | 0.1 | −87.3% | |
| Income tax | 0.1 | 0.2 | 0.4 | 0.1 | 0.4 | 0.3 | −24.6% | |
| Net income | (3.0) | 0.6 | 0.7 | 0.1 | 0.5 | (0.2) | −139.7% | |
| 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) | (12.10) | 2.65 | 3.10 | 0.50 | 2.50 | (1.00) | −140.0% | |
| EPS, diluted (per share) | (12.00) | 2.60 | 3.05 | 0.50 | 2.45 | (1.00) | −140.8% | |
| EBITDA | (1.8) | 1.8 | 2.0 | 1.9 | 1.9 | 0.6 | −66.9% | |
| Depreciation & amortization | 0.6 | 0.5 | 0.5 | 1.2 | 0.5 | 0.2 | −50.2% | |
| Weighted average shares (shares) | 244,600,000 | 238,820,000 | 219,580,000 | 218,613,861 | 215,400,000 | 215,000,000 | −0.2% | |
| Weighted average diluted shares (shares) | 247,200,000 | 243,060,000 | 223,280,000 | 218,800,000 | 219,400,000 | 215,200,000 | −1.9% | |
| Gross margin | 16.8% | 17.2% | 17.6% | 17.0% | 16.6% | 15.8% | −0.8 pts | |
| Operating margin | 19.0% | 9.6% | 9.4% | 3.6% | 9.0% | 2.8% | −6.2 pts | |
| Net margin | −24.7% | 5.0% | 4.7% | 0.7% | 3.7% | −1.6% | −5.3 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.
