| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 132.7 | 393.6 | 251.7 | 148.7 | 152.5 | 136.6 | −10.5% | |
| Depreciation & amortization | 121.4 | 115.1 | 114.6 | 126.0 | 134.7 | 151.0 | +12.0% | |
| Stock-based compensation | 0.7 | 5.6 | 4.7 | 2.1 | 1.2 | 0.8 | −30.0% | |
| Change in working capital | 81.2 | (64.1) | (71.3) | 29.5 | 14.9 | 12.0 | −19.1% | |
| Operating cash flow | 316.3 | 239.0 | 217.3 | 272.8 | 246.8 | 269.2 | +9.1% | |
| Capital expenditure | (37.1) | (44.4) | (57.8) | (48.8) | (46.8) | (37.0) | +21.1% | |
| Acquisitions | (47.5) | 375.2 | (50.0) | (30.5) | (69.4) | (12.0) | +82.7% | |
| Investing cash flow | (76.7) | 353.2 | (70.6) | (255.4) | (37.1) | (8.2) | +77.9% | |
| Dividends paid | 0.0 | (84.9) | (73.9) | (72.6) | (73.2) | (72.6) | +0.8% | |
| Share buybacks | 0.0 | 0.0 | (143.0) | (159.5) | (81.1) | (56.7) | +30.0% | |
| Debt issued / repaid | (144.0) | (111.2) | (75.3) | (44.5) | (8.2) | (19.6) | −140.4% | |
| Financing cash flow | (141.2) | (193.1) | (289.5) | (342.3) | (233.8) | (228.9) | +2.1% | |
| Free cash flow | 279.3 | 194.6 | 159.5 | 220.0 | 200.0 | 232.3 | +16.1% | |
| Net change in cash | 107.2 | 388.6 | (132.9) | (327.8) | (32.9) | (13.7) | +58.4% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
