| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 120.1 | 41.2 | (1.3) | (3.2) | (3.5) | 14.9 | +526.5% | |
| Depreciation & amortization | 3.6 | 4.2 | 4.3 | 4.4 | 4.4 | 4.1 | −8.0% | |
| Stock-based compensation | 0.0 | 0.0 | 0.6 | 0.7 | 1.5 | 0.0 | −100.0% | |
| Change in working capital | (39.8) | (109.3) | (19.7) | 2.0 | 4.9 | 6.9 | +42.1% | |
| Operating cash flow | 84.6 | (68.0) | (30.9) | 7.0 | 9.6 | 32.3 | +236.8% | |
| Capital expenditure | (9.5) | (1.4) | (0.5) | (0.1) | (0.9) | (0.9) | −1.8% | |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (9.5) | (1.3) | (1.6) | (1.7) | (0.9) | (12.3) | −1318.1% | |
| Dividends paid | 0.0 | 0.0 | (3.7) | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (0.9) | 0.0 | (2.6) | (0.5) | (1.0) | (1.3) | −30.4% | |
| Debt issued / repaid | (10.5) | 3.0 | (9.1) | 9.0 | (20.5) | 1.0 | +104.9% | |
| Financing cash flow | (14.0) | 42.7 | (16.8) | 5.2 | (26.3) | (3.6) | +86.2% | |
| Free cash flow | 75.1 | (69.4) | (31.4) | 7.0 | 8.7 | 31.5 | +260.1% | |
| Net change in cash | 61.1 | (26.6) | (49.3) | 10.5 | (17.5) | 16.5 | +193.9% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
