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Like-for-like sales growth

4.8%
  • FY26 4.8
  • FY25 2.5
  • FY24 5.0

Gross margin

52.8%
  • FY26 52.8
  • FY25 50.7
  • FY24 48.2

Underlying profit before tax (“PBT”)

£45.4m
  • FY26 45.4
  • FY25 43.6
  • FY24 41.8

Return on capital employed (“ROCE”)

14.2%
  • FY26 14.2
  • FY25 12.6
  • FY24 11.3

Underlying basic earnings per share (“EPS”)

15.7p
  • FY26 15.7
  • FY25 15.6
  • FY24 14.7

Dividend per share

9.0p
  • FY26 9.0
  • FY25 8.8
  • FY24 8.0

Free cash flow

£25.3m
  • FY26 25.3
  • FY25 43.0
  • FY24 29.4

Net debt to underlying EBITDA

(0.1)x
  • FY26 (0.1)
  • FY25 (0.1)
  • FY24 0.1

Five year performance record

All numbers included in the table below are on a total operations basis.

Metric

52 weeks to
1 April 2022
(£m)

52 weeks to
31 March 2023
(£m)

52 weeks to
29 March 2024
(£m)

52 weeks to
29 March 2025
(£m)

52 weeks to
27 March 2026
(£m)

Revenue

1,382.4

1,591.8

1,712.8

1,715.2

1,764.5

Cost of sales

(660.7)

(816.6)

(887.5)

(846.1)

(832.2)

Gross profit

721.7

775.2

825.3

869.1

932.3

Operating expenses

(617.5)

(713.5)

(770.4)

(814.4)

(875.9)

Underlying operating profit

104.2

61.7

54.9

54.7

56.4

Net finance expense

(11.3)

(12.1)

(13.1)

(11.1)

(11.0)

Underlying profit/(loss) before income tax

92.9

49.6

41.8

43.6

45.4

Income tax (expense) / credit

(17.8)

(10.2)

(9.9)

(9.7)

(11.5)

Underlying profit/(loss) after tax

75.1

39.4

31.9

33.9

33.9

Underlying basic earnings per share (continuing) (pence)

36.7

18.1

14.7

15.6

15.7

Underlying diluted earnings per share (continuing) (pence)

35.1

17.3

14.1

14.9

15.1

Dividend per share (pence)

9.0

10.0

8.0

8.8

9.0

Free cashflow

(14.9)

2.7

29.4

43.0

25.3

Net cash / (debt) excluding leases

46.1

(1.8)

(8.1)

10.1

11.2