RE: The big question is when does Serica pay its tax?23 Mar 2023 18:00
It’s tailwinds net debt, Serica with tailwind is net cash
Tailwind net debt 30/11/22 £277m
Tailwind net debt today £215m
I think the tailwind cash generation is even better than the above suggests as read on here that Tailwind paid a dividend after 30/11/2022 but before the deal completed.
Tailwind has tax credits to use against losses incurred in previous accounting period, so not so much of an impact with tailwind.