Financial review continued
Earnings/(loss) per share (EPS) continued Adjusted basic EPS 1 is reconciled as follows:
16 month period ended 30 September 2024
Year ended 30 September 2025
17.1
Statutory profit/(loss) for the year/period
(32.5)
9.5
Individually Significant Items (Note 4) 2
39.9
(11.4)
(Profit on disposal)/transaction costs of Fox Crypto (Note 4) 2
1.6
(0.7)
Tax effect of Individually Significant Items
(5.8)
—
North America deferred tax asset derecognition (adjusting item)
7.4
14.5
Adjusted profit for the year/period
10.6
Reconciliation of net debt 1 The table below summarises the Group’s cash flow and net debt 1 (including discontinued operations):
16 month period ended 30 September 2024 £m
Year ended 30 September 2025 £m
Year ended 30 September 2024 £m
Operating cash inflow before movements in working capital
38.7
50.6
48.5
1.2
Movement in working capital and non-payables
(2.6)
(10.1)
Cash generated from operating activities before interest and taxation
39.9
48.0
38.4
(1.1) (3.3) (2.0)
Interest element of lease payments
(1.6) (5.9) (2.1)
(1.7) (6.0) (4.3)
Finance interest paid
Taxation paid
Net cash generated from operating activities Purchase of property, plant and equipment
33.5
38.4
26.4
(4.7) (0.4)
(4.3) (1.3)
(6.2) (2.6) (1.0)
Software and development expenditure
—
Acquisition of trade and assets as part of a business combination
—
61.4
Sale proceeds from business disposals
10.4
12.4
(19.0)
Equity dividends paid
(14.5)
(14.5) (10.2)
(6.8) (5.8)
Repayment of lease liabilities (principal amount)
(7.9) (5.8)
Acquisition of treasury shares
(5.8)
0.3
Proceeds from the issue of ordinary share capital
0.3
0.3
Net movement
58.5
15.3
(1.2)
(45.3)
Opening net debt (excluding lease liabilities) 1
(67.5)
(49.6)
(0.5)
Non-cash movements (release of deferred issue costs)
(0.5)
(0.6)
0.4
Foreign exchange movement
7.4
6.1
Closing net cash/(debt) excluding lease liabilities 1
13.1
(45.3) (27.6)
(45.3) (27.6)
(19.5)
Lease liabilities
Closing net debt 1
(6.4)
(72.9)
(72.9)
1 R evenue at constant currency, Adjusted EBITDA, Adjusted operating profit, Adjusted basic EPS, net cash/(debt) excluding lease liabilities and cash conversion are Alternative Performance Measures (APMs) and not IFRS measures. See unaudited Appendix 1 and this Financial Review for an explanation of APMs and adjusting items, including a reconciliation to statutory information. 2 T he Group reports only one adjusted item: Individually Significant Items (which includes the £11.4m profit on disposal of Fox Crypto and £9.5m of fundamental re-organisation, strategic review of Escode and strategic review of Cyber costs). For further details, please refer to unaudited Appendix 1 and this Financial Review, which includes an explanation of APMs and adjusting items, along with a reconciliation to statutory information. The gain on disposal of Fox Crypto was non-taxable.
NCC Group plc — Annual report and accounts for the year ended 30 September 2025 54
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