v3.26.1
Reconciliation of profit before taxation to headline operating profit (Tables)
 6 Months Ended
Jun. 30, 2026
Reconciliation of operating profit to headline operating profit [Abstract]  
Summary of reconciliation of operating (loss)/profit to headline operating profit
Six Months Ended
30 June 2026
Six Months Ended
30 June 2025
£m£m
Profit before taxation106 98
Finance and investment income
(39)(49)
Finance costs
174 178 
Revaluation and retranslation of financial instruments34 11 
Profit before interest and taxation275238 
Earnings from associates
(14)(17)
Operating profit
261 221
Goodwill impairment
—116
Impairment of investments in associates
2 — 
Property-related impairment charges22 5 
Amortisation and impairment of acquired intangible assets
26 32 
Restructuring costs1
83 40 
Losses/(gains) on disposal of investments and subsidiaries
4 (2)
Headline operating profit
398 412 
Notes
1 Prior year comparative has been re-presented to include Property-related restructuring costs excluding impairment, that was previously presented separately.