Asda parent losses widen, Digihaul files on break-up basis

The holding company for Asda presents a challenging set of figures, with the operating loss widening considerably alongside a leaner headcount. While average employee numbers fell, total staff costs rose to £3.3bn, with margins contracting further. Below the line, a growing gap between operating and pre-tax profit reflects the impact of financing costs during the period.

The joint venture between Warner Bros. Discovery and BT Group held the top line steady, while the bottom line contracted. Gross profit swung from a £95m loss to an £11m profit, yet the operating loss widened further, reflecting heavy unallocated costs alongside the core trading performance. A challenging period for the sports broadcaster ends with a substantial tax credit offsetting the final deficit.

The engineering consultancy added over £100m to the top line, though this growth did not translate to profit. An increase in administrative expenses and staff costs compressed margins, with operating profit falling despite the revenue gains. A softer bottom line coincided with a resumption of dividend payments, with the accounts showing a £29.7m distribution following a year with no such payout.

A broadly steady year for the British arm of the coffee giant, with both revenue and operating profit barely moving. The flat bottom line reflects some internal rebalancing, as a £6m dip in gross profit was offset by lighter administrative expenses. The balance sheet remains in a net liability position of £191m, largely reflecting intercompany balances with parent and fellow subsidiary undertakings.

The Nottinghamshire power station generated less revenue but significantly more profit, moving the bottom line out of the red. The period also saw a substantial dividend distribution, with an £80m payout that notably exceeds the year's net profit and leaves the remaining net assets sitting at just £15.9m.