| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (31.2) | 28.8 | (65.2) | (67.5) | (39.5) | (16.4) | +58.6% | |
| Depreciation & amortization | 0.2 | 0.2 | 0.2 | 0.1 | 0.0 | 0.0 | — | |
| Stock-based compensation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Change in working capital | 6.1 | 11.7 | (2.8) | (7.1) | (3.0) | (8.1) | −173.4% | |
| Operating cash flow | 35.7 | 43.8 | 33.3 | 21.3 | 19.9 | 13.0 | −34.8% | |
| Capital expenditure | 0.0 | 0.0 | 0.0 | 0.0 | (21.3) | 0.0 | +100.0% | |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | (0.3) | 0.0 | +100.0% | |
| Investing cash flow | (0.2) | (98.2) | (5.1) | 14.8 | 21.4 | 35.4 | +65.1% | |
| Dividends paid | (26.7) | (27.8) | (34.0) | (32.0) | (22.3) | (15.2) | +32.1% | |
| Share buybacks | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | 21.6 | 73.1 | 0.3 | (20.5) | (104.5) | (50.9) | +51.2% | |
| Financing cash flow | (5.3) | 43.2 | (34.2) | (51.7) | (19.1) | (67.4) | −252.0% | |
| Free cash flow | 35.7 | 43.8 | 33.3 | 21.3 | 19.9 | 13.0 | −34.8% | |
| Net change in cash | 30.1 | (11.2) | (6.0) | (15.6) | 22.2 | (19.0) | −185.5% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
