| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (52.5) | (29.0) | (10.8) | (62.3) | 46.4 | (4.4) | −109.5% | |
| Depreciation & amortization | 48.0 | 44.2 | 41.1 | 41.2 | 40.5 | 45.8 | +13.1% | |
| Stock-based compensation | 0.1 | 0.3 | 0.5 | 1.0 | 1.8 | 0.0 | −100.0% | |
| Change in working capital | 19.5 | (8.1) | (2.5) | 11.9 | 6.4 | 10.8 | +68.8% | |
| Operating cash flow | 86.6 | 48.9 | 44.5 | 37.8 | 49.3 | 60.8 | +23.3% | |
| Capital expenditure | (20.4) | (23.6) | (33.0) | (31.2) | (31.7) | (25.0) | +21.1% | |
| Acquisitions | (7.1) | 5.1 | 12.5 | (3.2) | 80.0 | 4.6 | −94.3% | |
| Investing cash flow | (22.8) | (1.9) | (15.8) | (4.7) | 79.7 | (28.5) | −135.8% | |
| Dividends paid | (4.0) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (1.9) | (1.0) | 0.0 | (0.2) | (0.2) | (0.3) | −50.0% | |
| Debt issued / repaid | (43.2) | (19.6) | (31.1) | 6.4 | (90.0) | 0.0 | +100.0% | |
| Financing cash flow | (56.1) | (26.1) | (40.1) | (27.4) | (131.6) | (29.5) | +77.6% | |
| Free cash flow | 66.2 | 25.3 | 11.5 | 6.6 | 17.6 | 35.8 | +103.4% | |
| Net change in cash | 6.0 | 21.0 | (11.7) | 3.6 | (2.6) | (27.4) | −953.8% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
