Regis Schultz
CEO & Director

Good morning, everyone, and thank you for joining us. I'm Régis Schultz, CEO of JD Group, and I'm joined here today by Dominic Platt, our CFO; and also very happy to introduce Jetan Chowk, our Chief Technology Officer, who is on our Q&A panel.

So the agenda for the day is the following. I will start with our key message and highlights for the year. Then I will hand over to Dominic to go through the financials and guidance. And finally, I will take you through the key business update.

For today, I have five key message.

First, everything starts with the consumer. We are offering our customers the latest and the greatest towards fashion product in our vibrant and elevated retail theater. This customer-first approach, combined with cost and capital control delivered a resilient performance for JD against a tough trading environment.

Second, we are pleased, I'm going too quickly, sorry. Second, we are pleased with our momentum in North America with a 3.2% organic growth, which is comparable to our main competitor definition of like-for-like. We have invested further in the JD brand and made significant operational improvement across the region. North America is now our first region in terms of sales and in terms of profit.

Third, our free cash flow is up 36% year-on-year to GBP 462 million, supported by a 3% increase in