Financial highlights

  • Net revenue from continuing operations up 7% (+13% on an organic basis5) to £458.6m (2020: £428.6m).
  • Adjusted EBITDA from continuing operations decreased by 10% (-5% on an organic basis5) to £116.3m, (2020: £129.8m) reflecting the impact of COVID-19 and a change in gross profit mix partially offset by good cost control. Adjusted EPS from continuing operations down 14% to 55.9p (2020: 65.3p).
  • Net debt as at 30 June 2021 of £316.9m, (£335.8m inc. IFRS 16 liabilities7) representing net debt leverage of 2.8x8, meaningfully below the Group’s temporary banking covenant of 3.5x. Group expected to de-lever significantly over the course of this financial year to below 2.5x by the end of FY2022 and within our stated target of below 2.0x within FY2023.
  • Strong cash conversion with adjusted operating cash flow for the year from continuing operations up 6% to £99.9m (2020: £93.9m).

Our track record

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