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Cash (used in)/generated from operations

6 Months Ended

Dec. 31, 2022

Cash (used in)/generated from operations

Cash (used in)/generated from operations

28 Cash (used in)/generated from operations


		Three months ended				Six months ended
		31 December				31 December
		2022		2021		2022		2021
		£’000		£’000		£’000		£’000
Profit/(loss) before income tax		9,255		(2,067)		(25,115)		(21,887)
Adjustments for:
Depreciation		3,609		3,579		7,087		7,270
Amortization		44,971		38,653		85,110		73,787
Loss/(profit) on disposal of intangible assets		2,588		318		(14,020)		(17,158)
Net finance (income)/costs		(12,115)		7,472		18,873		17,126
Non-cash employee benefit expense - equity-settled share-based payments		626		433		1,155		968
Foreign exchange losses/(gains) on operating activities		5,140		(398)		3,967		(302)
Reclassified from hedging reserve		(367)		90		(530)		30
Changes in working capital:
Inventories		480		(105)		(1,072)		(796)
Prepayments		4,638		4,776		(10,928)		(13,751)
Contract assets – accrued revenue		(7,366)		(34,471)		(17,266)		(29,284)
Trade receivables		(64,070)		(5,832)		(48,087)		(5,541)
Other receivables		(497)		151		(857)		(650)
Contract liabilities – deferred revenue		(23,898)		(25,963)		(14,716)		39,615
Trade and other payables		(19,821)		(12,532)		(36,974)		(3,864)
Provisions		194		329		359		557
Cash (used in)/generated from operations		(56,633)		(25,567)		(53,014)		46,120