Ann: Half Yearly Report and Accounts, page-19

As a reality check, let's quickly build an abridged P&L for FY2024 from first principles; the company's presentation provides all the information we need:

EBITDA = $1.725 (they tell us that... bottom-end of guidance)

Less: D&A = - $780m (first-half was Dep was $343m and Amort was $40m, so together $383m, to which I add a bit more for conservatism sake)

=> EBIT =$945m

Less: Interest = -$125m (they tell us that)

=> Pre-Tax Profit = $820m

Less: Tax = -$220m (27% tax rate; they tell us that)

=> NPAT = $600m ... which is 30% higher than your $464m number and also around 15% higher than FY2019's earnings level (i.e., pre-Covid)

(So, if one strips out the Covid distortions, the business has grown.
Of course, they made $1.7bn worth of acquisitions over that period, so if one strips out the added earnings from the acquisition activity the organic growth hasn't done much at all, but that's a separate discussion).

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