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      "text": "Strengthening our balance sheet alongside a manageable maturity profile Making good progress towards middle of 2-3x adj. net debt / adj. EBITDA corridor*** 3.51x FY19 3.26x FY20 2.99x FY21 2.89x FY22",
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      "text": "Strong Operating Cash Conversion* Expecting another year of strong operating cash conversion >90%* 66% H1'19 73% H1'20** 67% H1'21 77% H1'22 72% H1'23 Cash flow weighted to H2, as normal",
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      "text": "* See Appendices A1 &. A6 ** H1'20 normalised for U.S. excise deferral. Reported 65%. *** Adjusted net debt to adjusted EBITDA at current rates. See Appendix A9.",
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