£m |
31 Dec 2023 |
31 Dec 2022
Restated(1)(2) |
31 Dec 2021
Restated(1)(2) |
31 Dec 2020
Restated(1) |
31 Dec 2019
Restated(1) |
Income statement (full year ended) |
|
|
|
|
|
Revenue |
2,958 |
2,751 |
2,227 |
2,432 |
2,593 |
Cost of sales |
(2,354) |
(2,182) |
(1,885) |
(2,377) |
(2,043) |
Expected credit (losses)/reversal on trade receivables |
(15) |
6 |
(99) |
(35) |
(2) |
Gross profit (centre contribution) |
589 |
575 |
243 |
20 |
548 |
Selling, general and administration expenses |
(443) |
(427) |
(328) |
(367) |
(279) |
Share of (loss)/profit of equity-accounted investees, net of tax |
(1) |
(1) |
(2) |
(3) |
3 |
Operating profit/(loss) |
145 |
147 |
(87) |
(350) |
272 |
Finance expense |
(348) |
(287) |
(198) |
(266) |
(229) |
Finance income |
14 |
35 |
26 |
3 |
1 |
(Loss)/profit before tax for the year from continuing operations |
(189) |
(105) |
(259) |
(613) |
44 |
Income tax (expense)/credit |
(27) |
32 |
(10) |
(30) |
22 |
(Loss)/profit for the year from continuing operations |
(216) |
(73) |
(269) |
(643) |
66 |
Profit/(loss) after tax for the year from discontinued operations |
- |
1 |
59 |
(4) |
385 |
(Loss)/profit after tax for the year |
(216) |
(72) |
(210) |
(647) |
451 |
(Loss)/earnings per ordinary share (EPS): |
|
|
|
|
|
Attributable to ordinary shareholders |
|
|
|
|
|
Basic (p) |
(21.4) |
(6.9) |
(20.4) |
(67.9) |
50.5 |
Diluted (p) |
(21.4) |
(6.9) |
(20.4) |
(67.9) |
49.6 |
Weighted average number of shares outstanding (‘000s) |
1,006,685 |
1,006,885 |
1,007,215 |
892,738 |
892,738 |
From continuing operations |
|
|
|
|
|
Basic (p) |
(21.4) |
(7.0) |
(26.2) |
(67.8) |
7.4 |
Diluted (p) |
(21.4) |
(7.0) |
(26.2) |
(67.8) |
7.3 |
Weighted average number of shares outstanding (‘000s) |
1,006,685 |
1,006,885 |
1,007,215 |
892,738 |
892,738 |
Balance sheet data (as at) |
|
|
|
|
|
Intangible assets |
1,128 |
1,148 |
782 |
749 |
720 |
Right-of-use assets |
4,372 |
5,009 |
5,254 |
5,647 |
5,917 |
Property, plant and equipment |
1,027 |
1,225 |
1,122 |
1,209 |
1,273 |
Net investment in finance leases |
97 |
147 |
– |
– |
– |
Deferred tax assets |
451 |
457 |
386 |
188 |
195 |
Other assets |
1,017 |
1,041 |
849 |
1,100 |
781 |
Cash and cash equivalents |
110 |
161 |
78 |
71 |
67 |
Total assets |
8,202 |
9,188 |
8,471 |
8,964 |
8,953 |
Current liabilities |
2,747 |
3,020 |
2,267 |
2,435 |
2,140 |
Non-current liabilities |
5,370 |
5,856 |
5,870 |
6,015 |
5,933 |
Equity |
85 |
312 |
334 |
514 |
880 |
Total equity and liabilities |
8,202 |
9,188 |
8,471 |
8,964 |
8,953 |
1. The comparative information has been restated to reflect the impact of discontinued operations (note 9, annual report).
2. The comparative information has been restated as the Group changed its accounting policy on deferred tax related to assets and liabilities arising from a single transaction due to amendments to IAS 12 (note 2, annual report).