Discontinued operations and disposal groups (Tables)

3 Months Ended

Mar. 31, 2026

Discontinued operations and disposal groups

Schedule of discontinued operations


				Three months ended
				March 31,		March 31,
				2026		2025
				$’m		$’m

Revenue				51.8		47.5
Cost of sales				(6.6)		(39.9)
Administrative expenses				(8.1)		(10.8)
Impairment of held for sale non-current assets				(29.9)		—
Other income				—		0.4
Operating income/(loss)				7.2		(2.8)
Finance income				9.9		2.2
Finance costs				(14.3)		(21.2)
Income/(loss) before tax from discontinued operations				2.8		(21.8)
Income tax benefit:
Related to pre tax income from the ordinary activities				0.1		5.6
Related to remeasurement to fair value less costs to sell				7.0		—
Income/(loss) from discontinued operation				9.9		(16.2)

Other comprehensive income:
Exchange differences on translation of foreign operations				31.9		74.6
Other comprehensive income for the period, net of taxes				31.9		74.6

Total comprehensive income for the period				41.8		58.4

Net cash from operating activities				35.0		27.2
Net cash used in investing activities				(15.9)		(26.1)
Net cash used in financing activities				(12.3)		(30.6)
Net increase/(decrease) in cash by the discontinued operation				6.8		(29.5)

Schedule of Assets held for sale and liabilities held for sale


		March 31, 2026						December 31, 2025
		Tower businesses		I-Systems		Total		Tower businesses		I-Systems		Total
		$’m		$’m		$’m		$’m		$’m		$’m

Non‑current assets
Property, plant and equipment		298.2		288.2		586.4		293.3		269.4		562.7
Right-of-use assets		253.6		0.9		254.5		244.6		0.7		245.3
Other intangible assets		195.7		141.8		337.5		194.9		137.1		332.0
Deferred income tax assets		148.5		8.5		157.0		138.4		6.1		144.5
Trade and other receivables		71.2		5.4		76.6		69.9		5.3		75.2

Current assets
Trade and other receivables		38.1		28.8		66.9		39.3		26.4		65.7
Cash and cash equivalents		16.1		9.9		26.0		16.9		10.7		27.6
Assets held for sale		1,021.4		483.5		1,504.9		997.3		455.7		1,453.0

Non‑current liabilities
Trade and other payables		-		(5.7)		(5.7)		-		(5.5)		(5.5)
Borrowings		-		(86.3)		(86.3)		-		(82.8)		(82.8)
Lease liabilities		(247.2)		(0.5)		(247.7)		(232.0)		(0.5)		(232.5)
Provisions for other liabilities and charges		(29.9)		-		(29.9)		(36.8)		-		(36.8)
Deferred income tax liabilities		(13.5)		-		(13.5)		(14.0)		-		(14.0)

Current liabilities
Trade and other payables		(41.4)		(25.0)		(66.4)		(42.6)		(23.6)		(66.2)
Borrowings		-		(19.2)		(19.2)		-		(13.9)		(13.9)
Lease liabilities		(44.2)		(0.5)		(44.7)		(40.9)		(0.4)		(41.3)
Liabilities held for sale		(376.2)		(137.2)		(513.4)		(366.3)		(126.7)		(493.0)