NOTES TO THE GROUP CONSOLIDATED FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 MARCH 2026
7. Operating profit
8. Employee costs and Directors’ emoluments
2026 £m 443.3
2025 £m 422.9
2026 £m 109.9
2025 £m
Revenue
Wages and salaries Social security costs Other pension costs
99.6
(244.5)
15.1 4.0
Direct materials/direct labour Other cost of goods sold Selling and distribution costs Administrative expenses
(236.8)
13.1 4.1 2.0
(6.3) (41.6)
(4.6)
1.4
(40.9) (98.2)
Share-based payments (note 30)
(105.7)
130.4
118.8
Operating profit
45.2
42.4
The average monthly number of employees (including Executive Directors) during the year was as follows:
Operating costs are as follows:
2025 (restated)
2026
2026 £m 130.4
2025 £m
515
Sales and marketing
471
3,287
Employee costs (note 8)
118.8
Manufacturing and services
3,350
5.1
368
Depreciation of property, plant and equipment (note 14) Depreciation of right-of-use assets (note 15) Amortisation of other intangible assets (note 18)
4.5 7.3
Administration
345
7.4
4,170 4,166 The average monthly number of employees for the prior year has been restated by 229, decreasing from 4,395 to 4,166, to reflect headcount on an average basis rather than full-time equivalent (FTE). At 31 March 2026 the Group had 4,200 employees (2025: 4,176).
16.6
16.6
–
Gain related to disposal group Expected credit losses (note 20) Net foreign exchange differences
(2.1)
(0.3) (0.7)
0.2
(0.4)
2026 £
2025 £
Inventories:
Directors’ emoluments
200.2
Cost of inventories
196.0
1,522,570
Aggregate emoluments in respect of qualifying services
1,580,707
0.2
Write-down of inventories to net realisable value
0.5
Aggregate employer contribution to a defined contribution pension scheme and pay in lieu of pension for two Directors
39.2
Other expenses Operating costs
39.1
74,840
70,165
398.1
380.5
1,597,410
1,650,872
Highest paid Director Emoluments in respect of qualifying services
2026 £m 398.1
2025 £m 380.5
934,021 45,160 979,181
985,059 42,407 1,027,466
Employer contribution to a defined contribution pension scheme and pay in lieu of pension
Operating costs
(5.3)
Less:
Net acquisition and disposal expenses
(3.6)
5.8
Contingent consideration
1.7
Aggregate emoluments for the Non-Executive Directors were £398,170 (2025: £415,325). Further details of all Directors’ emoluments are provided in the Remuneration Report on pages 116 to 137. 9. Finance income/(costs)
(16.3)
Amortisation of acquired intangibles
(16.2)
Adjusted operating costs
382.3
362.4
2026 £m
2025 £m
2.7 2.7
Interest receivable and similar income
3.7 3.7
Finance income
(9.9) (1.3) (0.6) (11.8)
Finance costs on bank loans and overdrafts
(12.5) (1.0) (0.6) (14.1)
Finance costs on lease liabilities Amortisation of borrowing costs
Finance costs
172
173
discoverIE Group plc Innovative Electronics
Annual Report and Accounts for the year ended 31 March 2026
Made with FlippingBook - professional solution for displaying marketing and sales documents online