Christopher Laybutt
Investor Relations & Clean Energy Strategy Director

Good morning, everyone, and welcome, and thank you for joining us at such short notice this morning. This morning, we've released preliminary fiscal '26 financial results slightly ahead of schedule and launched an GBP 800 million equity placing to accompany upgraded capital expenditure guidance. We have around 45 minutes for today's call, giving us plenty of time for you to ask questions.

And with that, I'll hand straight over to Lou and Phil. Lou?

Louise Beardmore
CEO & Director

Great. Good morning. Thanks, Chris. Look, good morning, everybody, and thank you for joining Phil and I to talk through our FY '26 results and details of the additional AMP8 growth submission and equity raise that we have launched this morning.

I'm really keen to talk through our results and to share more about the exciting plans that we've submitted to Ofwat today. As we move through the deck, you will hear 3 key messages. Number one, we've made a really great start to AMP8, and we are delivering on the things that matter most to our customers, our communities and the environment. We've delivered a strong set of financial results with