Solid FY24 results Revenue benefited from 5.3% LFL increase in sales yoy, and total revenue was at £2,610m. Adj Operating Profit came in at £312m, up 41.2% yoy, and EPS was at 25p. The company indicates that not only were LFL ahead of the CGA tracker, but all market segments showed positive performance. LFL also strong in first few weeks of FY25, c£100m cost increases LFL sales were up 4% yoy in the first seven weeks of FY25, again beating the CGA tracker. The company indicates c£100m of cost increases in FY25 vs FY24 (INVe - we expect altogether c£80m additional opex), with the biggest impact coming from the Budget. There is no indication as yet on whether (or how) the company intends to mitigate that.