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Like-for-like revenue (£m)1

2,214.2
+5.3%

Reported revenue (£m) 

2,203.8
+3%

Adjusted Operating Profit (£m)3

94.3
+5.5%

Free Cash Flow (£m)4

103.2
+49.8

Leverage (times)5

0.4x
reduction

ROIC 

7.5%
+40 basis points

Five Year History

£m 2023 2022  2021 2020 2019
Reported revenue  2,203.8 2,139.2 1,871.6 1,793.5 1,885.9
Adjusted operating profit3  94.3 89.4 102.0 83.6 89.7
Adjusted profit before tax3  67.5 69.8 85.4 64.1 71.4
Profit after tax  53.9 12.5 56.8 34.1 36.9
Free cash flow4  103.2 53.4 80.1 29.8 35.5
Basic EPS (pence)  9.4 2.2 9.8 5.9 6.4
Adjusted EPS (pence)  8.8 9.5 10.4 8.7 10.3
Operational net debt5 (229.6) (284.9) (293.7) (333.4) (354.8)
Leverage5 (times)  1.5 1.9 1.9 2.3 2.3

 

Three year history

£m 2023 2022 2021 2023 vs 2021 GROWTH
Like-for-like revenue (£m) 1 2,214.2 2,103.2 1,900.9 5.3%
ROIC 7.5% 7.1% 7.2% +40bps

1 -Like-for-like revenue is from continuing operations and excludes the impact of acquisitions, disposals, closures and the effect of foreign currency movements.

2 -The Group adopted IFRS 16 Leases from 2019. 2018 and 2017 have not been restated.

3 -Adjusted operating profit and adjusted profit before tax excludes restructuring costs, asset impairments and those additional charges or credits that are considered significant or one-off in nature.

4 -Free cash flow is the amount of cash generated after meeting obligations for interest, tax, pensions and spend on capital expenditure.

5 -Operational net debt excludes IFRS 16 lease liabilities (2021 £83.6m, 2020 £80.4m).  Leverage is the ratio of operational net debt to adjusted EBITDA per IFRS 16 after covenant adjustments