RE: thoughts?15 Sep 2022 08:11
Year-end cash of c.£500m expected, including completion of credit approved three-year term £156m banking facility and non-core freehold asset disposal (£44m)10.
· Following significant investment in its global infrastructure network and through ongoing project delivery efficiencies, the Group anticipates capex in FY 2023 of c.5.0% of revenue.
· The Group therefore remains on track to becoming broadly free cash flow neutral in FY 2023 and significantly free cash flow positive in FY 2024.