The Accounts · daily brief
12 June 2026
A $7.4bn exit dividend, and Waitrose margins slip
The takeaways
- Director pay at SriLankan Airlines rose 18 percent alongside a 10 percent revenue slide
- Thai Airways swung from a heavy loss to a 22.5bn THB net profit on flat turnover
- Unmatched reporting periods distort the headline comparisons at John Lewis plc
Hiring signals · who grew, who shrank
Hiring
- Dalkia Facilities Limited 944 → 3,042 staff ▲ +222% staff cost +61%
- Statom Group Limited 53 → 114 staff ▲ +115% staff cost +175%
Cutting
- Tesco Personal Finance Limited 2,632 → 986 staff ▼ −63% staff cost −13%
- Skyscanner Limited 981 → 603 staff ▼ −39% staff cost −37%
Average headcount from the accounts filed yesterday — a look back at last year's payroll, not a live hiring tracker.
Filing of note
Walgreens Boots Alliance Uk 4 Limited
Filed on a break-up (non-going-concern) basis.
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | USD 318.8m | USD 114.2m | ▲ +179% |
| Gross profit | USD 318.8m | USD 114.2m | ▲ +179% |
| Operating profit | USD 318.8m | USD 114.2m | ▲ +179% |
| Finance costs | — | USD 93,000 | |
| Profit before tax | USD 779.2m | USD 114.1m | ▲ +583% |
| Net profit | USD 779.1m | USD 114.1m | ▲ +583% |
| Cash & balance sheet | |||
| Net assets | USD 8.8m | USD 6.7bn | ▼ −100% |
| Dividends paid | USD 7.5bn | USD 244.5m | ▲ +2952% |
| People & pay | |||
| Avg. headcount | 0 | 0 | |
| Staff cost | USD 0 | USD 0 | |
| Director pay | USD 0 | USD 0 | |
Filed on a break-up basis ahead of a voluntary strike-off, this filing details a final restructuring. The holding company distributed a $7.4bn dividend during the period. That distribution significantly reduced the balance sheet, bringing net assets down from $6.6bn to just $8.8m before the entity is finally wound up.
Srilankan Airlines Limited [1]
Board pay rise
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | LKR 303.1bn | LKR 339.6bn | ▼ −11% |
| Gross profit | LKR 211.4bn | LKR 224.5bn | ▼ −6% |
| Admin expenses | LKR 46.6bn | LKR 49.5bn | ▼ −6% |
| Operating profit | LKR 166.1bn | LKR 176.4bn | ▼ −6% |
| Finance costs | LKR 36.3bn | LKR 36.4bn | ▼ −0% |
| Profit before tax | LKR 130.8bn | LKR 138.9bn | ▼ −6% |
| Net profit | LKR 129.9bn | LKR 138.3bn | ▼ −6% |
| Cash & balance sheet | |||
| Cash | LKR 5.2bn | LKR 8.4bn | ▼ −38% |
| Net assets | LKR 208.6bn | LKR 202.4bn | ▲ +3% |
| People & pay | |||
| Avg. headcount | 6,786 | 6,648 | ▲ +2% |
| Staff cost | LKR 60.0bn | LKR 65.8bn | ▼ −9% |
| Director pay | LKR 202.6m | LKR 172m | ▲ +18% |
Revenue contracted 11% to 303.1bn LKR, while operating profit also declined. Directors' remuneration rose by 18% to 202.6m LKR during the period, alongside a 9% reduction in total staff costs for the broader workforce. The period saw board pay increase while top-line sales did not.
Thai Airways International Public Company Limited [2]
Profitable swing
| Line | FY24 | FY23 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | THB 183.4bn | THB 187.2bn | ▼ −2% |
| Net profit | THB 22.5bn | −THB 26.9bn | ▲ +184% |
| Cash & balance sheet | |||
| Cash | THB 78.6bn | THB 84.3bn | ▼ −7% |
A notable bottom-line recovery for the Thai flag carrier. Turnover held broadly flat at 183.4bn THB, while the group recorded a swing from a 26.9bn THB loss in the prior year to a 22.5bn THB net profit. The balance sheet closed the period holding 78.5bn THB in cash.
Rtx Corporation [3]
Margin expansion
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | USD 88.6bn | USD 80.7bn | ▲ +10% |
| Gross profit | USD 34.8bn | USD 30.2bn | ▲ +15% |
| Admin expenses | USD 5.3bn | USD 5.0bn | ▲ +6% |
| Operating profit | USD 9.3bn | USD 6.5bn | ▲ +42% |
| Finance costs | USD 1.7bn | USD 1.9bn | ▼ −6% |
| Profit before tax | USD 8.7bn | USD 6.7bn | ▲ +30% |
| Net profit | USD 7.1bn | USD 5.0bn | ▲ +41% |
| Cash & balance sheet | |||
| Cash | USD 7.4bn | USD 5.6bn | ▲ +33% |
| Net assets | USD 67.2bn | USD 61.9bn | ▲ +9% |
| Dividends paid | −USD 3.6bn | −USD 3.6bn | ▲ +0% |
| People & pay | |||
| Avg. headcount | 180,000 | 54,000 | ▲ +233% |
The American aerospace and defence conglomerate delivered a steady year. A 10% uplift in turnover to $88.6bn accompanied a 43% rise in operating profit, which landed at $9.3bn. The group recorded a structural expansion along the way, with reported average headcount expanding from 54,000 to 180,000.
John Lewis Plc [4]
Unmatched periods
| Line | FY26 | FY25 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £11.7bn | £11.1bn | ▲ +5% |
| Gross profit | £3.7bn | £3.6bn | ▲ +5% |
| Admin expenses | £3.8bn | £3.5bn | ▲ +8% |
Proceed with caution on the headline comparisons here, as the prior period is a one-day stub that renders year-on-year percentages meaningless. In its latest 371-day stretch, the retailer booked £11.7bn in turnover and £3.7bn in gross profit. The bottom line lacks explicit profit figures, though the group integrated £128m in exceptional items.
Waitrose Limited [5]
Margin squeeze
| Line | FY26 | FY25 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £7.8bn | £7.3bn | ▲ +7% |
| Gross profit | £2.3bn | £2.2bn | ▲ +7% |
| Admin expenses | £2.2bn | £2.0bn | ▲ +7% |
| Operating profit | £178m | £200m | ▼ −11% |
| Finance costs | £83m | £77m | ▲ +8% |
| Profit before tax | £111m | £138m | ▼ −20% |
| Net profit | £73m | £114m | ▼ −36% |
| Cash & balance sheet | |||
| Cash | £71m | £67m | ▲ +6% |
| Net assets | £718m | £645m | ▲ +11% |
| People & pay | |||
| Avg. headcount | 44,900 | 46,700 | ▼ −4% |
| Staff cost | £1.2bn | £1.0bn | ▲ +10% |
Top-line growth accompanied a margin contraction at the supermarket chain. Turnover rose 7% to £7.7bn, but operating profit slipped 11% to £178m while administrative expenses expanded. The period also saw a 10% rise in total staff costs to £1.1bn, an increase that occurred while average headcount fell by roughly 1,800.
There is a unique freedom in writing the final cheque, provided it is for seven billion dollars.
Sources
- Srilankan Airlines Limited
- Thai Airways International Public Company Limited
- Rtx Corporation
- John Lewis Plc
- Waitrose Limited