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for the year ended 31 October 2024

  2024 2023
  £m
£m £m £m
Non-current assets
Goodwill 98.5   100.5
 
Development costs 18.6
  17.6  
Other intangible assets 10.0
  9.6  
Property, plant and equipment 287.8   242.2  
Retirement benefit surplus 0.1    5.9  
Deferred tax 7.3   36.9  
    422.3   412.7
Current assets
Inventories 127.1   101.7  
Trade and other receivables 91.0   74.8  
Cash and cash equivalents 45.0   6.4  
Derivative financial instruments 0.9   0.8  
    264.0   183.7
Assets classified as held for sale   5.8
   
Total assets   692.1   596.4
Current liabilities
Borrowings (43.0)      
Lease liabilities  (2.1)    (1.1)
 
Trade and other payables (163.3)    (124.0)
 
Provisions (3.2)    (5.6)
 
Current tax (8.8)    (8.2)
 
Derivative financial instruments (1.5)    (3.2)
 
    (221.9)    (142.1)
Non-current liabilities
Borrowings (43.7)   (14.1)
 
Lease liabilities  (8.9)   (5.5)
 
Government grants (24.0)      
Provisions (16.7)   (12.0)
 
Deferred tax (17.6)   (43.8)
 
Derivative financial instruments (2.9)   (0.3)  
Preference shares (0.1)   (0.1)
 
    (113.9)   (75.8)
Total liabilities   (335.8)   (217.9)
Net assets   356.3   378.5
Equity
Share capital   2.7
  2.8
Share premium account   309.0
  308.7
Special capital reserve   13.0   12.9
Translation reserve   (20.7)
  (8.8)
Retained earnings   52.3   62.9
Total equity   356.3
  378.5