| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (15.2) | 16.3 | 34.9 | 35.2 | 46.5 | 46.2 | −0.7% | |
| Depreciation & amortization | 59.4 | 58.8 | 53.8 | 60.1 | 71.3 | 80.7 | +13.2% | |
| Stock-based compensation | 1.0 | 0.6 | 0.6 | 1.0 | 0.0 | 0.0 | — | |
| Change in working capital | 45.7 | (21.9) | 20.1 | 27.1 | 0.8 | (29.7) | −3716.5% | |
| Operating cash flow | 105.8 | 56.7 | 110.9 | 135.9 | 119.6 | 100.3 | −16.1% | |
| Capital expenditure | (6.8) | (8.8) | (9.4) | (25.8) | (29.8) | (45.2) | −51.7% | |
| Acquisitions | 4.6 | 0.0 | (2.9) | 0.0 | 16.4 | 9.5 | −42.1% | |
| Investing cash flow | 52.6 | (6.2) | (5.9) | (25.7) | (3.6) | (40.5) | −1037.6% | |
| Dividends paid | 0.0 | (2.8) | (9.7) | (11.8) | (12.9) | (13.9) | −7.4% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | (37.9) | (52.1) | (17.8) | +65.8% | |
| Debt issued / repaid | (84.7) | (40.0) | (0.0) | 11.2 | (57.9) | 0.0 | +100.0% | |
| Financing cash flow | (135.2) | (92.1) | (61.5) | (95.1) | (147.1) | (99.4) | +32.4% | |
| Free cash flow | 99.0 | 47.9 | 101.5 | 110.0 | 89.8 | 55.1 | −38.7% | |
| Net change in cash | 23.2 | (41.6) | 43.5 | 15.2 | (47.4) | (42.9) | +9.3% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
