Consolidated statement of changes in equity (unaudited)

Share
capital
£’000

Share
premium
£’000

Other reserves
£’000

Retained
earnings
£’000

Total
shareholders’
equity
£’000

Balance at 1 January 2025

1,764

172,102

1,052,090

1,225,956

Profit for the period/total comprehensive income

74,479

74,479

Ordinary shares repurchased and cancelled

(45)

(21,330)

(21,375)

Dividends

(3,969)

(3,969)

Total transactions with equity shareholders

(45)

(21,330)

(3,969)

(25,344)

Balance at 30 June 2025

1,719

150,772

1,122,600

1,275,091

Profit (loss) for the period/total comprehensive income

(15,885)

(15,885)

Ordinary shares repurchased and cancelled

(48)

(26,292)

(26,340)

Dividends

Total transactions with equity shareholders

(48)

(26,292)

(26,340)

Balance at 31 December 2025

1,671

124,480

1,106,715

1,232,866

Profit for the period/total comprehensive income

68,192

68,192

Ordinary shares repurchased and cancelled

(23)

(11,674)

(11,697)

Other reserves1

(297)

(297)

Total transactions with equity shareholders

(23)

(11,674)

(297)

(11,994)

Balance at 30 June 2026

1,648

112,806

(297)

1,174,907

1,289,064