v3.26.1
Segmental analysis
 6 Months Ended
Jun. 30, 2026
Reportable Segments [Abstract]  
Segmental analysis 2. Segmental analyses
Revenue by segment
The following table shows 2026 revenue at 2026 rates of exchange, and 2026 revenue translated using 2025 rates of exchange.
The 2025 figures are stated at the 2025 rates of exchange.
Six months ended 30 June
2026
2025
Reported
Exchange
Reported at
CC1
Reported
Revenue
£m
£m
£m
£m
U.S.
5,687
206
5,893
5,432
AME
4,402
(83)
4,319
4,281
APMEA
2,146
61
2,207
2,356
Total Region
12,235
184
12,419
12,069
Notes to the analysis of revenue above:
1.CC: constant currency – measures are calculated based upon a re-translation, at the prior year’s exchange rates, of the current year’s results of the Group and, where applicable, its segments.
Notes to the Unaudited Interim Financial Statements (continued)
2. Segmental analyses (continued)
Profit from operations by segment
The following table shows 2026 profit from operations and adjusted profit from operations at 2026 rates of exchange, and 2026
adjusted profit from operations as adjusted for Canada3 translated using 2025 rates of exchange.
The 2025 figures are stated at the 2025 rates of exchange.
Six months ended 30 June
2026
Reported
Adj Items1
Adjusted
Exchange
Adjusted at
CC2
Adj for
Canada3 at
CC2
As adj. for
Canada3 at
CC2
£m
£m
£m
£m
£m
£m
£m
Profit from Operations
U.S.
2,595
652
3,247
124
3,371
—
3,371
AME
1,212
259
1,471
(28)
1,443
(109)
1,334
APMEA
459
249
708
8
716
—
716
Total Region
4,266
1,160
5,426
104
5,530
(109)
5,421
Net finance costs
(403)
Associates and joint ventures
189
Profit before tax
4,052
Taxation
(824)
Profit for the period
3,228
Six months ended 30 June
2025
Reported
Adj Items1
Adjusted
Adj for
Canada3
As adjusted
for Canada3
£m
£m
£m
£m
£m
Profit from Operations
U.S.
2,255
808
3,063
—
3,063
AME
1,969
(495)
1,474
(154)
1,320
APMEA
845
12
857
—
857
Total Region
5,069
325
5,394
(154)
5,240
Net finance costs
(969)
Associates and joint ventures
1,474
Profit before tax
5,574
Taxation
(1,009)
Profit for the period
4,565
Notes to the analysis of profit from operations above:
1.Adjusting items represent certain items which the Group considers distinctive based upon their size, nature or incidence.
2.CC: constant currency – measures are calculated based upon a re-translation, at the prior year’s exchange rates, of the current year’s results of the Group and, where applicable, its segments.
3.The adjustment in respect of Canada is discussed on pages 47 and 48, with the adjustment based upon a percentage (2026: 85%; 2025: 100%) of the net income after taxes earned from
all sources, excluding New Categories, in Canada.