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Cash used in operations (Tables)

6 Months Ended

Dec. 31, 2023

Cash used in operations

Schedule of cash used in operations


		Three months ended				Six months ended
		31 December				31 December
		2023		2022		2023		2022
		£’000		£’000		£’000		£’000
Profit/(loss) before income tax		27,219		9,255		(5,585)		(25,115)
Adjustments for:
Depreciation		4,153		3,609		8,255		7,087
Amortization		50,495		44,971		97,340		85,110
(Profit)/loss on disposal of intangible assets		(399)		2,588		(29,880)		(14,020)
Net finance costs/(income)		275		(12,115)		34,894		18,873
Non-cash employee benefit expense - equity-settled share-based payments		736		626		1,476		1,155
Foreign exchange losses on operating activities		619		5,140		477		3,967
Reclassified from hedging reserve		250		(367)		(2)		(530)
Changes in working capital:
Inventories		1,022		480		(859)		(1,072)
Prepayments		9,286		4,638		(10,833)		(10,928)
Contract assets – accrued revenue		(14,476)		(7,366)		(18,487)		(17,266)
Trade receivables		(39,110)		(64,070)		(44,355)		(48,087)
Other receivables		9,612		(497)		7,863		(857)
Contract liabilities – deferred revenue		(64,780)		(23,898)		(18,581)		(14,716)
Trade and other payables		(23,602)		(19,821)		(31,839)		(36,974)
Provisions		688		194		(2,025)		359
Cash used in operations		(38,012)		(56,633)		(12,141)		(53,014)