Key Performance Information: Full Year Results 2025/26
Strong broad-based growth across all sectors
Revenue
+15%
£2,582m
(FY25: £2,248m)
(FY25: £2,248m)
Adjusted EBIT1
+22%
margin: 23.0%
(FY25: 21.6%)
(FY25: 21.6%)
Revenue/Adjusted EBIT1 excl. one-off2
+14%/+20%
margin: 22.7%
(+110bps)
(+110bps)
Record strategic investment for future growth
R&D spend
£123m
4.7% of revenue
(FY25: £108m; 4.8%3)
(FY25: £108m; 4.8%3)
Acquisitions4
£447m
5 acquisitions (FY25: 7 acquisitions, £157m)
Cash conversion
93%
(FY25: 112%)
Strong financial position and returns
Net debt/ Adjusted EBITDA
1.16x
(FY25: 0.97x)
ROTIC5
16.2%
(+120bps) (FY25: 15.0%)
Final dividend
+7%
24.74p
(FY25: 23.12p)
(FY25: 23.12p)
1:
Adjusted
EBIT is profit before interest and taxation, amortisation and impairment of
acquired intangibles, acquisition items, significant restructuring costs,
profit or loss on disposal of operations, and impairment of associates.
2:
As
a
result
of
the
Nuvonic/FluidSmile
transactions
described
in
our
results’
announcement,
one-off
revenue
of
£9.9m
and
profit of
£9.3m
were
recognised
in 2026.
3:
As
a
percentage
of
revenues.
4:
Maximum
total
consideration
on
a
cash-
and
debt-free
basis. 5:
Return
on
Total Invested
Capital.
Notes:
Adjusted EBIT, Adjusted ROTIC, net debt and net debt/Adjusted EBITDA are
alternative performance measures used by management. See notes 1, 2 and 3 to
the Results for details.
