Key Performance Information: Half Year Results 2024/25
Strong growth and high returns
Revenue
+13%
£1,074m
(H1 23/24: £951m)
(H1 23/24: £951m)
EBIT1
+17%
margin3: 20.7%
(H1 23/24: 20.0%)
(H1 23/24: 20.0%)
ROTIC3
+14.3%
(H1 23/24: 13.2%)
Continued strategic investment
R&D spend
£54m
5.0% of revenue
(H1 23/24: £50m; 5.3%4)
(H1 23/24: £50m; 5.3%4)
Acquisitions5
£84m
4 acquisitions
Growth from M&A
4.3%
contribution to revenue and EBIT1,6
Strong financial position; further dividend growth
Cash conversion
108%
(H1 23/24: 96%)
Net debt to EBITDA
1.27x
(FY24: 1.35x)
Dividend for the year
+7%
9.00p
(H1 23/24: 8.41p)
(H1 23/24: 8.41p)
1: Adjusted2 EBIT. 2: Profit before amortisation and impairment of acquired intangibles, acquisition items, significant restructuring costs, profit on disposal of operations, and impairment of associates. 3: Return on Total Invested Capital. 4: As a percentage of revenues. H1 23/24 R&D corrected and restated. 5: Maximum total consideration on a cash- and debt-free basis. 6: Acquisitions net of disposals.
