









1References to ‘sales’ throughout this announcement are statutory revenue plus the gross value of consignment sales ex. VAT.
Results of Republic of Ireland (ROI) have been reclassified from International to be reported within Food and Fashion, Home & Beauty
The share of results in ORL relates to the 57 weeks to 6th April 2025 versus the 53 weeks to 3rd March 2024
Non-GAAP measures and alternative performance measures (APMs) are discussed within this release. A glossary and reconciliation to statutory measures is provided at the end of this document. Adjusted results are consistent with how business performance is measured internally and presented to aid comparability. Refer to Notes 1 and 3 of the financial information for further details.
Group Results (52 weeks ended) | 29 March 25 | 30 March 24 | Change (%) |
Statutory revenue | £13,816.8m | £13,040.1m | 6.0% |
Sales2 | £13,914.3m | £13,109.3m | 6.1% |
Operating profit before adjusting items | £984.5m | £838.6m | 17.4% |
Profit before tax and adjusting items1 | £875.5m | £716.4m | 22.2% |
Adjusting items1 | (£363.7m) | (£43.9m) | n/a |
Profit before tax | £511.8m | £672.5m | -23.9% |
Profit after tax | £291.9m | £425.2m | -31.3% |
Basic earnings per share | 14.6p | 21.9p | -33.3% |
Adjusted basic earnings per share1 | 31.9p | 24.6p | 29.7% |
Adjusted return on capital employed1 | 16.4% | 14.1% | 2.3% pts |
Free cash flow from operations | £443.3m | £437.8m | n/a |
Net (debt) | (£1.79bn) | (£2.17bn) | n/a |
Net funds/(debt) excl. lease liabilities | £437.8m | £45.7m | n/a |