Slide 1: Half Year Results 2025
Group plc Half Year Results 2025
Slide 2: Highlights
KEVIN LYONS-TARR, CEO Highlights
Slide 3: Results Summary
Results Summary Revenue Operating profit Basic EPS $659.4m $70.7m 197.4c 1% 1% 2% Cash and bank deposits Interim Dividend $102.3m 80.0c 2024 FY: $147.6m 2024 HY: 80.0c 2024 HY: $121.5m Half Year Results 2025 2
Slide 4: Financial Review
MICHELLE BRUKWICKI, CFO Financial Review 3
Slide 5: Income Statement
Income Statement • Revenue -1% o US $646.8m; UK $12.6m o Resilient performance in volatile market H1 2025 H1 2024 FY 2024 conditions $m $m $m • Gross profit +1% Revenue 659.4 667.5 -1% 1,367.9 o Margin benefit from modest price Cost of sales (442.9) (453.5) -2% (932.5) adjustments and minimal suppli
Slide 6: Balance Sheet
Balance Sheet H1 2025 H1 2024 FY 2024 • Fixed asset additions $2.2m $m $m $m o Investment in IT infrastructure and Goodwill 1.0 1.0 1.0 machinery to support embroidery and digital print operations Fixed assets 49.1 46.4 49.6 Right-of-use assets 3.3 11.0 4.2 • Right-of-use-assets and lease liabilitie
Slide 7: Cash Flow
Cash Flow H1 2025 H1 2024 FY 2024 $m $m $m At start of period 147.6 104.5 104.5 • Highly cash generative business model o Strong financial performance in H1 Operating profit 70.7 69.9 148.1 o Attractive working capital profile Share option charges 1.8 0.9 1.6 o Cash conversion of 118% of operating p
Slide 8: Operational Review
KEVIN LYONS-TARR, CEO Operational Review 7
Slide 9: Market
Market ASI Industry Sales North America 2005 - 2024 $bn 28.0 26.6 25.8 25.8 26.1 26.0 24.7 • Industry sales declined 3.6% and 23.6 23.2 3.2% in Q1 and Q2, respectively, as a 24.0 22.9 21.5 22.0 challenging environment for demand 22.0 20.5 20.7 19.6 19.8 19.4 generation continued 20.0 18.6 18.5 17.8
Slide 10: Marketing Effectiveness
Marketing Effectiveness US and Canada Acquired and Retained % 60% 90,000 • Total marketing spend $84.7m, a 80,000 50% reduction of 3% over H1 2024 70,000 • Revenue per marketing dollar $7.79 40% 60,000 vs. $7.64 for H1 2024. Flexibility of 50,000 marketing mix evident, allowing 30% overall spend to
Slide 11: Operational Update
Operational Update Supply chain • Volatility and uncertainty resulting from new tariff policies has introduced stress into the supply chain. • Minimal impact on product costs from the tariff situation in H1 as most of our suppliers had significant inventory positions. • During H2, we anticipate incr
Slide 12: Summary & Outlook
Summary & Outlook Despite some market challenges and an anticipated level of rising product cost due to tariffs in the second half, the Board expects that full year Group revenue and profit before tax will remain within the current range of analysts’ forecasts. The Board is confident in the Group's