The Accounts · daily brief
16 June 2026
A $7.4bn exit dividend, and board pay outpaces sales
The takeaways
- A Boots support vehicle distributed $7.4bn in dividends ahead of a voluntary strike-off
- John Lewis filed against a one-day prior stub, rendering statutory comparisons void
- RTX reported a substantial headcount jump to 180,000 alongside a 42% operating profit rise
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
Operating as a UK business support vehicle, the entity belongs to the corporate structure formerly known as the publicly listed Walgreens Boots Alliance, which was recently taken private and restructured by private equity firm Sycamore Partners.
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 UK support vehicle recorded a substantial capital exit. It distributed a $7.46bn dividend, reducing its net assets from $6.69bn down to $8.8m. The entity is now being wound down following the private equity buyout of its former parent structure.
Srilankan Airlines Limited [1]
Operating as the national flag carrier of Sri Lanka, the company is a majority state-owned airline that provides international passenger and cargo transport, alongside airport ground handling and flight catering services.
Board pay jumps
| 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 at the state-owned flag carrier fell 11% to LKR 303.1bn, and total staff costs shrank 9% to LKR 60.0bn. The period also saw an increase in board pay, with director remuneration rising 18% to LKR 202.6m alongside the contraction in the top line.
Thai Airways International Public Company Limited [2]
The entity operates as the UK branch of Thailand's national flag carrier airline, which is listed on the Stock Exchange of Thailand and backed by the Thai Ministry of Finance.
Back to black
| 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% |
The UK branch of the Thai flag carrier moved from a THB 26.9bn net loss to a THB 22.5bn net profit. This shift occurred alongside a broadly flat turnover of THB 183.4bn, marking a return to the black for the state-backed airline.
Rtx Corporation [3]
Listed on the New York Stock Exchange, RTX Corporation (formerly Raytheon Technologies) is an American multinational aerospace and defence conglomerate that manufactures aircraft engines, avionics, and military systems through its Collins Aerospace, Pratt & Whitney, and Raytheon divisions.
Massive 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% |
Turnover at the US aerospace and defence conglomerate rose 10% to $88.6bn, while operating profit increased 42% to $9.3bn. The standout figure is the average headcount, which more than tripled from 54,000 to 180,000, reflecting the scale of its consolidated divisions.
John Lewis Plc [4]
Operating as the principal trading subsidiary of the employee-owned John Lewis Partnership plc, the company runs the Waitrose supermarket chain and John Lewis department stores across the UK, alongside offering financial services and maintaining a corporate bond listed on the London Stock Exchange.
Stub period void
| 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% |
The principal trading subsidiary of the partnership filed its latest accounts against a one-day stub prior period, making any unadjusted year-on-year comparisons mathematically void. Turnover for the 371-day period settled at £11.7bn, while the bottom line included a £128m exceptional charge.
Waitrose Limited [5]
Trading as Waitrose & Partners, the company operates a major British supermarket chain and convenience store network as a wholly owned subsidiary of the employee-owned John Lewis Partnership.
Margins squeezed
| 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% |
Turnover climbed 7% to £7.77bn, while operating profit slipped 11% to £178m alongside an increase in administrative expenses. The operating margin contracted during a period where staff costs rose 10% to £1.15bn, even as average headcount fell 4% to 44,900.
Filing a one-day prior accounting period certainly makes for a highly unusual set of statutory comparisons, but the auditors were ultimately satisfied enough to sign it off.
Sources
- Srilankan Airlines Limited
- Thai Airways International Public Company Limited
- Rtx Corporation
- John Lewis Plc
- Waitrose Limited