Three months ended
Six months ended
June 30,
2026
2025
$'m
Reconciliation:
Income from continuing operations before taxation
25.8
101.0
143.0
192.0
Adjustments:
(Loss)/income from discontinued operations before taxation
(1.7)
(33.3)
1.1
(55.2)
Depreciation of property, plant and equipment
51.1
77.8
101.9
156.4
Amortization of intangible assets
5.1
11.2
10.1
22.0
Amortization of prepaid site rent
1.0
0.6
1.9
1.3
Net impairment loss of property, plant and equipment, intangible assets excluding goodwill and related prepaid land rent
47.5
1.7
80.4
3.6
Net impairment (reversal)/loss of withholding tax receivables (note 7)
(4.9)
(0.5)
(12.9)
Impairment of inventory
2.2
0.2
3.4
0.4
Net gain on disposal of property, plant and equipment and right-of-use assets
(1.9)
(2.2)
(3.4)
(1.0)
Share‑based payment and long-term employee benefit expenses
57.6
8.5
99.0
14.0
Net loss allowance on trade receivables
0.8
1.4
5.3
1.8
Gain on disposal of subsidiary (note 20)
(20.0)
—
Finance income
(52.5)
(35.6)
(172.9)
(56.1)
Finance costs
117.0
114.3
235.9
228.7
Insurance claim income
(0.1)
(0.2)
(0.3)
Operating income before working capital changes
227.0
244.9
486.2
494.7
Changes in working capital
(Increase)/decrease in inventory
(7.4)
4.1
(5.4)
(10.1)
Decrease/(increase) in trade and other receivables
10.7
(41.6)
(23.6)
(31.2)
(Decrease)/increase in trade and other payables
(28.2)
47.4
(10.2)
17.6
Net movement in working capital
(24.9)
9.9
(39.2)
(23.7)
Cash from operations
202.1
254.8
447.0
471.0
No definition available.
Tabular disclosure of cash flow from operation.