Wage contraction and rising board pay

Turnover fell 11% while operating profit contracted 30% at the broadcaster. The reduction was reflected in the staff cost line, which shed £100m despite average headcount remaining entirely flat year-on-year. While total staff costs contracted, the £7.5m directors' remuneration pot remained static.

The British arm of the IT consultancy added £171m to the top line, but the expansion did not translate to the bottom. Operating profit slipped 6% as gross margins tightened, demonstrating that revenue growth does not guarantee a wider operating margin.

Operating profit pushed past the £1.1bn mark on an 8% increase in turnover at the music collective. While the highest-paid director saw a 25% reduction to their remuneration, the larger figures remain in the catalogue: related-party royalty payouts to publisher and writer directors expanded to nearly £148m.

The ultimate holding company for the automotive group saw turnover remain broadly flat, dipping a fraction year-on-year. That plateau did not prevent a substantial increase at the top, with total directors' remuneration more than tripling and the highest-paid director receiving £1.65m.

Sitting just underneath the group parent, the dealership arm posted identically flat turnover but managed a modest uptick in operating profit. The accounts outline a related-party property arrangement, with nearly £1m in rent paid to the ultimate controlling party's self-administered pension scheme.