Annual report and accounts 2023 - Flipbook - Page 13
Strategic Report
Corporate Governance
Accounts
Financial key performance indicators
NON-FINANCIAL KPIs
Can be found on page 32
Revenue
Gross margin*
Adjusted profit before tax*
£317.6m
40.3%
£43.5m
(390)bps
18.2%
2023
2022
£317.6m
£268.6m
13.3%
2023
40.3%
2023
44.2%
2022
2022
£43.5m
£38.4m
The increase in value of revenue recorded relative
to the prior year.
Reported gross profit divided by revenue.
Adjusted profit before tax is reported profit before tax after
adjusting items.
Adjusted operating margin*
Adjusted EBITDA margin*
Return on capital employed*
13.6%
17.1%
18.0%
(130)bps
(204)bps
2023
13.6%
14.9%
2022
(191)bps
2023
17.1%
19.1%
2022
2023
18.0%
19.9%
2022
Adjusted operating profit and before the deduction
of interest and taxation, divided by adjusted revenue.
EBITDA (defined as adjusted operating profit before
depreciation and amortisation) divided by adjusted revenue.
Reported profit before tax as a percentage of invested capital.
Invested capital is defined as year end non-current plus current
assets less current liabilities excluding all balances relating to
any provisions, financial instruments, interest-bearing liabilities
and cash or cash equivalents.
Net cash from operating activities
Basic earnings per share
Full year dividend per share*
£35.9m
30.47p
13.1p
2023
2023
(17.3%)
2022
£35.9m
£43.4m
Net cash from operating activities is defined as the cash
generated in the ongoing regular business activities in
the year.
*
9.2%
21.4%
Items marked with an asterisk are non-GAAP measures.
Definitions and relevant reconciliations are provided in the
Glossary on pages 199 to 204.
2022
30.47p
25.09p
Reported profit attributable to equity holders divided
by weighted average number of shares in issue.
2023
2022
13.1p
12.0p
Total dividend declared for the full year excluding
any special dividend.
CEO AND FINANCIAL REVIEWS
Can be found on pages 12 and 56
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