Net debt to EBITDA
  2019 2020 2021 2022 2023
Revenue £671.3m £687.5m £675.6m £878.6m £1,053.9m
Headline operating profit1 £10.2m £14.3m £12.9m £21.8m £21.0m
Headline profit before tax1 £9.7m £13.2m £11.9m £20.9m £19.6m
Diluted headline EPS2 15.8p 20.5p 20.4p 34.8p 31.4p
Total dividend per share 6.6p 6.9p 7.2p 7.5p 7.8p
0.7x 0.7x 0.3x -0.3x -0.6x


1 Headline operating profit excludes exceptional items and amortisation of acquired intangibles. Headline profit before taxation excludes exceptional items, amortisation of acquired intangibles and the net finance cost in respect of the Group’s defined benefit pension scheme. Diluted headline earnings per share also takes into account the taxation effect thereon.


2 Net cash/(debt) excludes IFRS 16 lease liabilities.