Return to underlying operating profit* for all three divisions
Average net debt of £(68.3)m improved by £16.9m (20%), normalised to include £(46.5)m of deferred VAT)
£10m cash generated from working capital improvement actions through DSO reduction of 5 days
The results shown above relate to continuing operations. The 2019 results are restated to exclude the results of the Apprenticeships business sold in December 2020 and the Poland subsidiaries, which are held for sale.
Underlying results exclude amortisation of intangible assets arising on business combinations, exceptional reorganisation, legal and refinancing costs, exceptional transaction costs, exceptional National Minimum Wage remediation and financial penalties, revised audit scope and increased audit fees, employee dispute settlements, goodwill impairment and the non-cash charge/credit for share-based payment costs
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