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  "presentationDate": "2022-04-01 00:00:00",
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      "text": "Like-for-like revenue less pass-through costs of 5.5-6.5% (previously around 5%)\nHeadline operating margin improvement maintained targeted at around 50 bps, excluding the impacts of M&A and foreign exchange\nCapex £350-400 million\nTrade working capital expected to be flat year-on-year\nForeign exchange rate benefit of 2.0-2.5% on reported revenue less pass-through costs from the movement in sterling year-on-year\nMergers and acquisitions benefit of 0.5-1.0% to revenue less pass-through costs growth\nAround £800 million of share buybacks in 2022, of which £362 million completed in Q1",
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