£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Growth Metrics | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
Annualisation Factor | 1.0 | 1.0 | n/a | 1.0 | 1.0 |
Dividend Yield | 0.0% | 0.0% | 0.0% | 1.9% | 6.1% |
Continuing Operations | |||||
PE Ratio - Adjusted | 16.9 | 10.6 | n/a | 6.6 | 5.9 |
PE Ratio - Diluted | n/a 21.1 |
10.1 12.4 |
n/a n/a |
n/a 11.5 |
12.5 7.2 |
PEG - Adjusted | n/a | n/a | n/a | n/a | 5.9 |
PEG - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a 3.6 |
Return on Capital Employed | 11.60% 34.46% |
13.35% 13.30% |
n/a n/a |
n/a 8.49% |
19.94% 31.35% |
Operating Margin | 1.03% 3.46% |
5.68% 5.66% |
(44.06%) (0.66%) |
(1.71%) 5.36% |
4.39% 7.98% |
Continuing & Discontinued Operations | |||||
PE Ratio - Adjusted | 16.9 | 10.6 | n/a | 6.6 | 5.9 |
PE Ratio - Diluted | n/a 21.1 |
10.1 12.4 |
n/a n/a |
n/a 11.5 |
12.5 7.2 |
PEG - Adjusted | n/a | n/a | n/a | n/a | 5.9 |
PEG - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a 3.6 |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
Net Gearing | 159.68% | 146.47% | 664.32% | 81.83% | 39.63% |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Value Metrics | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
Price/Book Value | (2.7) | (6.3) | (1.2) | (6.3) | (16.8) |
Price/Tangible Book Value | (2.7) | (5.9) | (1.2) | (6.0) | (15.1) |
Price/ Cash Flow | 5.8 | 241.0 | 2.7 | 6.4 | 6.5 |
Price/Revenue | 0.34 | 0.40 | 28.80 | 0.44 | 0.56 |
Price/R&D | n/a | n/a | n/a | n/a | n/a |
Net Asset Value per Share (exc. Intangibles) | (109.08p) | (51.20p) | (183.60p) | (60.91p) | (29.34p) |
Net Cash per Share | n/a | n/a | n/a | n/a | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Annualised Fundamentals | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
Continuing Operations | |||||
Revenue | 4,438.60 | 4,101.80 | 40.09 | 4,428.50 | 4,474.80 |
EBITDA | 250.90 358.90 |
568.30 567.40 |
(16.57) 0.82 |
206.30 519.10 |
400.30 561.10 |
Depreciation | (205.40) (205.40) |
(335.30) (335.30) |
(1.09) (1.09) |
(281.90) (281.90) |
(203.80) (203.80) |
Net Interest | (48.60) (48.60) |
(70.80) (70.80) |
(0.62) (0.62) |
(71.90) (71.90) |
(45.10) (45.10) |
Profit Before Tax | 6.20 114.20 |
182.30 181.40 |
(18.28) (0.88) |
(88.90) 223.90 |
235.20 396.00 |
Revenue per Share | 878.24p | 812.08p | 7.94p | 876.41p | 885.81p |
Pre-Tax Profit per Share | 1.23p 22.60p |
36.09p 35.91p |
(3.62p) (0.17p) |
(17.59p) 44.31p |
46.56p 78.39p |
Market Capitalisation £ (Millions) | 1,510.72 | 1,640.66 | 1,155.79 | 1,937.45 | 2,495.12 |
Enterprise Value (EV) £ (Millions) | 2,193.02 | 3,449.76 | 3,140.99 | 5,453.65 | 3,847.52 |
EBITDA/EV | 11.44% 16.37% |
16.47% 16.45% |
(0.53%) 0.03% |
3.78% 9.52% |
10.40% 14.58% |
Operating Margin | 1.03% 3.46% |
5.68% 5.66% |
(44.06%) (0.66%) |
(1.71%) 5.36% |
4.39% 7.98% |
Capital Employed £ (Millions) | 472.50 | 1,896.20 | 1,474.00 | 3,485.90 | 1,407.00 |
Return on Capital Employed | 11.60% 34.46% |
13.35% 13.30% |
n/a n/a |
n/a 8.49% |
19.94% 31.35% |
Invested Equity Capital £ (Millions) | 360.90 | 691.60 | 294.40 | 2,365.50 | 3,011.20 |
Earnings per Share - Basic | (6.90p) 14.44p |
32.50p 26.49p |
(357.00p) (12.55p) |
(23.30p) 33.45p |
39.50p 68.25p |
Earnings per Share - Diluted | (6.90p) 14.18p |
32.10p 26.17p |
(357.00p) (12.46p) |
(23.30p) 33.39p |
39.40p 68.13p |
Earnings per Share - Adjusted | 17.70p | 30.70p | (24.60)p | 58.40p | 84.00p |
Earnings per Share Growth - Basic | n/a -46% |
n/a n/a |
n/a n/a |
n/a -51% |
-41% 2% |
Earnings per Share Growth - Diluted | n/a -46% |
n/a n/a |
n/a n/a |
n/a -51% |
-41% 2% |
Earnings per Share Growth - Adjusted | -42% | n/a | n/a | -30% | 1% |
PE Ratio - Diluted | n/a 21.1 |
10.1 12.4 |
n/a n/a |
n/a 11.5 |
12.5 7.2 |
PEG - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a 3.6 |
Tax Rate | (1,274.19%) | 8.88% | 0.44% | (18.24%) | 33.88% |
Dividend Cover | n/a n/a |
n/a n/a |
n/a n/a |
8.11 4.65 |
2.80 2.28 |
Interest Cover | 1.09 2.62 |
3.27 3.26 |
(22.28) (0.13) |
(0.03) 3.60 |
4.75 7.32 |
Continuing & Discontinued Operations | |||||
Earnings per Share - Basic | (6.90p) 14.44p |
32.50p 26.49p |
(3.60p) (0.15p) |
(23.30p) 33.45p |
39.50p 68.25p |
Earnings per Share - Diluted | (6.90p) 14.18p |
32.10p 26.17p |
(3.60p) (0.14p) |
(23.30p) 33.39p |
39.40p 68.13p |
Earnings per Share - Adjusted | 17.70p | 30.70p | (0.25p) | 58.40p | 84.00p |
Earnings per Share Growth - Basic | n/a -46% |
n/a n/a |
n/a n/a |
n/a -51% |
-41% 2% |
Earnings per Share Growth - Diluted | n/a -46% |
n/a n/a |
n/a n/a |
n/a -51% |
-41% 2% |
Earnings per Share Growth - Adjusted | -42% | n/a | n/a | -30% | 1% |
PE Ratio - Diluted | n/a 21.1 |
10.1 12.4 |
n/a n/a |
n/a 11.5 |
12.5 7.2 |
PEG - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a 3.6 |
Dividend Cover | n/a n/a |
n/a n/a |
n/a n/a |
8.11 4.65 |
2.80 2.28 |
Return on Equity (ROE) | (9.70%) 20.23% |
23.74% 19.35% |
(6.18%) (0.25%) |
(4.98%) 7.14% |
6.62% 11.45% |
Operating Cash Flow per Share | 51.70p | 1.35p | 84.63p | 59.63p | 76.49p |
Gross Cash Flow per Share | cn/a | cn/a | cn/a | cn/a | cn/a |
Cash Incr/Decr per Share | (63.57p) | 44.09p | (1.64p) | 214.45p | (1.11p) |
Capital Expenditure per Share | n/a | n/a | n/a | n/a | n/a |
Dividend per Share | n/a | n/a | n/a | 7.20p | 30.00p |
Dividend per Share Growth | n/a | n/a | n/a | (76.00%) | 1.69% |
Dividend Yield | 0.0% | 0.0% | 0.0% | 1.9% | 6.1% |
Shareholders Funds | 353.90 | 682.00 | 213.00 | 2,299.10 | 2,867.50 |
Net Borrowings £ (Millions) | 565.10 | 998.90 | 1,415.00 | 1,881.40 | 1,136.30 |
Net Asset Value per Share (inc. Intangibles) | (112.45p) | (55.06p) | (186.77p) | (64.02p) | (32.78p) |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing - inc Intangibles | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
Shareholders' Funds inc Intangibles | 353.90 | 682.00 | 213.00 | 2,299.10 | 2,867.50 |
Net Borrowings £ (Millions) | 565.10 | 998.90 | 1,415.00 | 1,881.40 | 1,136.30 |
Net Gearing | 159.68% | 146.47% | 664.32% | 81.83% | 39.63% |
Cash & Near Cash | 451.70 | 1,146.30 | 904.80 | 1,845.90 | 275.20 |
Cash | 127.63% | 168.08% | 424.79% | 80.29% | 9.60% |
Gross Borrowings | 1,016.80 | 2,145.20 | 2,319.80 | 3,727.30 | 1,411.50 |
Gross Gearing | 287.31% | 314.55% | 1,089.11% | 162.12% | 49.22% |
Borrowings Under 5 years | 1,016.80 | 2,145.20 | 2,319.80 | 3,727.30 | 1,411.50 |
Under 5 years | 287.31% | 314.55% | 1,089.11% | 162.12% | 49.22% |
Borrowings Under 1 year | n/a | n/a | n/a | n/a | n/a |
Under 1 year | n/a | n/a | n/a | n/a | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing - exc Intangibles | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
Shareholders' Funds exc Intangibles | (568.30) | (278.10) | (943.20) | (323.50) | (165.60) |
Net Borrowings £ (Millions) | 565.10 | 998.90 | 1,415.00 | 1,881.40 | 1,136.30 |
Net Gearing | (99.44%) | n/a | n/a | n/a | n/a |
Cash & Near Cash | 451.70 | 1,146.30 | 904.80 | 1,845.90 | 275.20 |
Cash | (79.48%) | (412.19%) | (95.93%) | (570.60%) | (166.18%) |
Gross Borrowings | 1,016.80 | 2,145.20 | 2,319.80 | 3,727.30 | 1,411.50 |
Gross Gearing | 178.92% | 771.38% | 245.95% | 1,152.18% | 852.35% |
Borrowings Under 5 years | 1,016.80 | 2,145.20 | 2,319.80 | 3,727.30 | 1,411.50 |
Under 5 years | (178.92%) | (771.38%) | (245.95%) | (1,152.18%) | (852.35%) |
Borrowings Under 1 year | n/a | n/a | n/a | n/a | n/a |
Under 1 year | n/a | n/a | n/a | n/a | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Cover | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
Quick Ratio | 0.77 | 0.80 | 0.81 | 1.12 | 0.82 |
Current Ratio | 0.85 | 0.86 | 0.88 | 1.19 | 0.95 |
* GAAP
a. Includes discontinued activities
b. Based on operating cash flow before tax
c. Not disclosed under IFRS
d. Includes non-current assets
You are here: research