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Base Model                Îê  
Central Costs & Overheads Operating Assumptions                                                                            
            Projected Fiscal Year Ending
(GBP in 000s , except otherwise stated)           Sep.14 Oct.14 Nov.14 Dec.14 Jan.15 Feb.15 Mar.15 Apr.15 May.15 Jun.15 Jul.15 Aug.15 Sep.15 Oct.15 Nov.15 Dec.15 Jan.16 Feb.16 Mar.16 Apr.16 May.16 Jun.16 Jul.16 Aug.16 Sep.16 Oct.16 Nov.16 Dec.16 Jan.17 Feb.17 Mar.17 Apr.17 May.17 Jun.17 Jul.17 Aug.17 Sep.17
Revenues GBP 000s  90 240.0  90 983.2  91 733.2  92 490.1  93 253.9  94 024.8  94 802.8  95 587.9  96 380.3  97 180.0  97 987.1  98 801.6  99 623.7  100 453.4  101 290.8  102 136.0  102 989.1  103 850.0  104 719.0  105 596.1  106 481.4  107 374.9  108 276.8  109 187.1  110 106.0  111 033.4  111 969.5  112 914.5  113 868.3  114 831.1  115 802.9  116 783.9  117 774.1  118 773.7  119 782.8  120 801.4  121 829.6 
Growth Rate % per annum   9.9% 9.9% 9.9% 9.9% 9.9% 9.9% 9.9% 9.9% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.1% 10.1% 10.1% 10.1% 10.1% 10.1% 10.1% 10.1% 10.1% 10.1% 10.1% 10.2% 10.2% 10.2% 10.2% 10.2% 10.2% 10.2%
COGS GBP 000s  87 000.0  74 479.5  75 097.5  75 721.1  76 350.5  76 985.6  77 626.7  78 273.6  78 926.6  79 585.6  80 250.7  80 921.9  81 599.4  82 283.2  82 973.3  83 669.9  84 372.9  85 082.5  85 798.7  86 521.6  87 251.3  87 987.8  88 731.1  89 481.5  90 238.9  91 003.3  91 775.0  92 553.9  93 340.2  94 133.8  94 935.0  95 743.7  96 560.0  97 384.1  98 215.9  99 055.6  99 903.3 
   
Central Costs    
Sales & Marketing GBP 000s  4 000.0  4 020.0  4 040.1  4 060.3  4 080.6  4 101.0  4 121.5  4 142.1  4 162.8  4 183.6  4 204.6  4 225.6  4 246.7  4 267.9  4 289.3  4 310.7  4 332.3  4 353.9  4 375.7  4 397.6  4 419.6  4 441.7  4 463.9  4 486.2  4 508.6  4 531.2  4 553.8  4 576.6  4 599.5  4 622.5  4 645.6  4 668.8  4 692.2  4 715.6  4 739.2  4 762.9  4 786.7 
Growth Rate % per annum   6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0%
   
Administration GBP 000s  3 000.0  3 015.0  3 030.1  3 045.2  3 060.5  3 075.8  3 091.1  3 106.6  3 122.1  3 137.7  3 153.4  3 169.2  3 185.0  3 201.0  3 217.0  3 233.0  3 249.2  3 265.5  3 281.8  3 298.2  3 314.7  3 331.3  3 347.9  3 364.7  3 381.5  3 398.4  3 415.4  3 432.5  3 449.6  3 466.9  3 484.2  3 501.6  3 519.1  3 536.7  3 554.4  3 572.2  3 590.0 
Growth Rate % per annum   6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0%
   
Rent & Leases GBP 000s  2 000.0  2 008.3  2 016.7  2 025.1  2 033.5  2 042.0  2 050.5  2 059.1  2 067.6  2 076.3  2 084.9  2 093.6  2 102.3  2 111.1  2 119.9  2 128.7  2 137.6  2 146.5  2 155.4  2 164.4  2 173.4  2 182.5  2 191.6  2 200.7  2 209.9  2 219.1  2 228.3  2 237.6  2 246.9  2 256.3  2 265.7  2 275.1  2 284.6  2 294.1  2 303.7  2 313.3  2 322.9 
Growth Rate % per annum   5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%
   
Consulting GBP 000s  1 800.0  1 806.0  1 812.0  1 818.1  1 824.1  1 830.2  1 836.3  1 842.4  1 848.6  1 854.7  1 860.9  1 867.1  1 873.3  1 879.6  1 885.8  1 892.1  1 898.4  1 904.8  1 911.1  1 917.5  1 923.9  1 930.3  1 936.7  1 943.2  1 949.7  1 956.2  1 962.7  1 969.2  1 975.8  1 982.4  1 989.0  1 995.6  2 002.3  2 008.9  2 015.6  2 022.3  2 029.1 
Growth Rate % per annum   4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0%
   
Other CC GBP 000s  1 000.0  1 002.5  1 005.0  1 007.5  1 010.0  1 012.6  1 015.1  1 017.6  1 020.2  1 022.7  1 025.3  1 027.8  1 030.4  1 033.0  1 035.6  1 038.2  1 040.8  1 043.4  1 046.0  1 048.6  1 051.2  1 053.8  1 056.5  1 059.1  1 061.8  1 064.4  1 067.1  1 069.7  1 072.4  1 075.1  1 077.8  1 080.5  1 083.2  1 085.9  1 088.6  1 091.3  1 094.1 
Growth Rate % per annum   3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
   
Total Central Costs GBP 000s  11 800.0  11 851.8  11 903.9  11 956.2  12 008.8  12 061.5  12 114.6  12 167.8  12 221.3  12 275.1  12 329.1  12 383.3  12 437.8  12 492.6  12 547.5  12 602.8  12 658.3  12 714.0  12 770.0  12 826.3  12 882.8  12 939.6  12 996.6  13 053.9  13 111.4  13 169.2  13 227.3  13 285.6  13 344.3  13 403.1  13 462.3  13 521.7  13 581.4  13 641.3  13 701.6  13 762.1  13 822.8 
Total EBITDA GBP 000s  (8 560.0) 4 651.8  4 731.8  4 812.8  4 894.7  4 977.6  5 061.5  5 146.4  5 232.4  5 319.3  5 407.3  5 496.4  5 586.5  5 677.7  5 770.0  5 863.4  5 957.9  6 053.5  6 150.3  6 248.2  6 347.3  6 447.6  6 549.1  6 651.8  6 755.7  6 860.8  6 967.2  7 074.9  7 183.9  7 294.1  7 405.7  7 518.5  7 632.8  7 748.3  7 865.3  7 983.6  8 103.4 
EBITDA Margin % (9.5%) 5.1% 5.2% 5.2% 5.2% 5.3% 5.3% 5.4% 5.4% 5.5% 5.5% 5.6% 5.6% 5.7% 5.7% 5.7% 5.8% 5.8% 5.9% 5.9% 6.0% 6.0% 6.0% 6.1% 6.1% 6.2% 6.2% 6.3% 6.3% 6.4% 6.4% 6.4% 6.5% 6.5% 6.6% 6.6% 6.7%
>> End of Sheet