Daniel, so basically, could you please explain the disclosed transaction of Daniel in more detail and what's the reason to do so at this time?

This is Dan Walden here, CFO.

Without more detail, it's rather tricky to know which transaction you refer to.

I think the question is referring to a recent transfer of shares which were announced on the RNS.

And that was described at the time.

It's still within Daniel's, the O'Neill family beneficial holdings.

It's just a personal decision that was taken by Daniel and the family and the family office.

On what basis are the directors considering the shares to be undervalued? So very, I don't know whether you would take that.

Capitalism has this relentless efficiency drive, right? And that efficiency is efficiency for what is valuable in the market, right? And so there's this kind of like steady pressure on education to simply be nothing more than a jobs training program, leading people into the marketplace where they can be good employees rather than sort of Well-formed citizens and human beings capable of taking part in rich democratic and cultural life.

This, this, this, this is the same vision that's been, that's been-- w- that was supported by, like, the Democratic Party, like through the Clinton years, through the Bush years, through the Obama years.

Oh, you're gonna maximize your human capital.

You're gonna, um...

You know, education is an investment in yourself, it's an investment in your future, and like, you know, yeah, you should maybe acquire some polish and, you know, if you're gonna be, if you're gonna be a, I mean, if you're gonna be a leader in society, you know, you should, you should be exposed to a diverse range of people because that's what leaders need.

Um, like not 'cause it's a good in itself.

Not, not because like, like, like human beings are good and you should meet them, but like, oh, y- you know, we're, we're forming leaders, so they need to be...

And, and that this can, doesn't necessarily always, but can radically reshape the student's sense of themselves and their relationship to other people.

So with that, I'll pause and I'll hand over to Dan to give you a deep dive on the financials.

Thanks Lee.

So as Lee said, we're very pleased with our performance again this year, another year of excellent progress, driving improved financial performance and a stronger balance sheet.

Our results demonstrate the significant momentum and the substantial step change that we've delivered as a result of the initiatives that we've pursued.

Revenue is up 23%, gross profits up 26%, supported by improved margins.

EBITDA, operating profit and PBT are all up year on year, demonstrating the early impacts of the strategy that was set out in June 24. and net cash increased to £4.4 million, reflecting a free cash flow of £3.5 million after £5.1 million of capital investment.

The momentum in our sales performance is strong and is supported by a growth in our customer base, which increased by 25%.

revenue.