| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Depreciation & amortization | 10.6 | 10.8 | 3.4 | 3.6 | 2.1 | 1.3 | −39.0% | |
| Change in working capital | (1.3) | 0.3 | (2.5) | 1.2 | 8.0 | 8.7 | +8.7% | |
| Operating cash flow | (7.0) | (7.8) | (6.7) | 8.1 | 3.3 | 1.3 | −61.1% | |
| Capital expenditure | (5.0) | (1.6) | 0.0 | (1.3) | 0.0 | 0.0 | — | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Free cash flow | (12.1) | (9.3) | (6.7) | 6.8 | 3.3 | 1.3 | −61.1% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.