*Net Debt is Bank Debt less cash and cash equivalents. It excludes lease liabilities under IFRS 16
(*) FY 2020 cash flow restated for £1,418k VAT for Q1 2020 deferred and paid in FY 2021 to reflect normalised net cash from operating activity
(†) FY 2021 net cash flow materially impacted by £8.6m increase in inventory
(*) Underlying Operating Profit is used as an alternative performance measure by management to assess the trading performance of the business and is operating profit before amortisation and impairment of acquired intangibles and share based payment, and restructuring costs.