Ten Lifestyle Group Plc

is remains always has been to become the world's most trusted service. And sometimes we say the world's most trusted service platform because we play behind other people's brands. And a brief reminder, when our business has really reached its potential, we'll be booking the dining, organizing the travel, booking the entertainment, helping with the premium shopping for a huge chunk of the world's high net worths and mass affluent. Those markets are absolutely vast. Over the immediate next few years, our job is to continue to be the market leader for lifestyle concierge services behind long-term contracts with big brands, particularly today in financial services, that gives us a base of high net worth members. And the better we serve them, the more we get paid by our corporate clients. That gives us growth. And also as we scale and we put more tech into our business and better processes, efficiency follows that drives our EBITDA, cash generation and so on. And those things combined are what we think of as our growth engine. So as our service proposition improves, we deliver better value to the corporate clients that pay us to look after our members. That increasing money allows us to invest more into tech and proposition, which drives profitability, but also drives member satisfaction that then drives more engagement from our corporate clients and more budget there too. That's the journey of the next few years and beyond. I would say, before we come on to our results for this last period, some of the analysts on the call, I'm guessing that every travel... leisure or hospitality company that you can think of or look at in the markets will have taken on new debt or issued significant amounts of new equity over the last 12 months. And very few will have managed to develop their business and invest discretionary funds into business improvement whilst also not needing to raise new cash into the business through debt or equity. So we are very pleased that that is what we were able to do. So although our core revenues, our core dining, eating out, live entertainment did decline, and so that led to a decline in net revenues, we still maintained good levels of activity with our members, and we made our business more efficient that meant that our EBIT margin actually went up marginally, albeit the absolute number of EBIT fell a little. We kept a good level of cash in the business. We took only a million of long-term debt in the US that was government backed. And we think that may be forgiven. But even as we came through this period with a healthy cash position, we maintained a high level of investment in technology and some other things as well. And that investment helped the digital transformation of the business, helped drive greater efficiencies, helped us put our digital platform into more markets and behind more brands. David Olusoga, And overall improved the level of service that we give to our Members, we were also we had a very good period for renewal of key contracts and we want some new mandates as well, so we are overall and given coven pretty pleased with our results from the last six months. Now, some of you haven't seen or won't have seen the video that's on our website about the growth engine. That's in the investors section. But essentially, that's what I've just talked about. So starting from the top, as our service levels improve, members use us more, our corporate clients do better, invest more with us. We invest that back into tech, content, supplier partnerships, which improves both our member proposition, but also improves cash generation and margin, as well as the speed of the service. Before we move on to Alan's financial review, I'm just going to play a 60 second video, which will really remind us all what we do for our members. It's basically a 60 second advert for the business.

If you believe that life is for living, it's time to start living times 10. Our experts on the ground will show you a world tailored to you with local and global partners to guarantee exclusive rates and upgrades. Our box office contacts will get you into every entertainment event you're into and into the seats of your choice. And when it comes to dining, we make unbookable tables bookable with prime time reservations in your favorite and future favorite restaurants. As a 10 member, you'll have our personalized platform at your fingertips, our team of lifestyle managers at your side, and access to exclusive offers from the world's top brands. RealMate, living a life filled with unforgettable experiences, effortless. And because we've got the buying power of 250,000 members, we'll do it all at a price that you'll love. This is Living x 10.

Great. So I hope you enjoyed that. I'm going to hand over to Alan for our numbers.