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STAKEHOLDER INFORMATION FIVE YEAR STATEMENT

2025

£’m

2024

£’m

2023

£’m

2022

£’m

2021

£’m

Revenue

2,723.3

2,599.3

2,323.0

2,008.5

1,898.4

Profit before tax

181.6

158.4

139.5

129.9

114.8

Adjusted profit before tax*

197.9

176.6

140.1

136.9

129.7

Earnings per share

250.5p

210.4p

208.3p

195.7p

176.4p

Adjusted earnings per share*

273.4p

242.8p

210.0p

205.4p

199.3p

Dividends per share

101.0p

90.0p

79.4p

75.6p

70.0p

Capital expenditure

137.6

91.4

85.1

93.7

71.9

Net (debt)/funds

(172.4)

(99.4)

(101.4)

(106.0)

(92.4)

Net assets

987.9

911.5

842.9

768.9

686.1

* Adjusted profit before tax and earnings per share exclude certain non-cash items including the net IAS 41 valuation movement on biological assets, amortisation and impairment of acquired intangible assets, and profit on sale of a business. These are the measures used by the Board to assess the Group’s underlying performance.

Dividends per share relate to dividends declared in respect of that year.

Net (debt)/funds is defined as per Note 27 to the accounts.