​

  ​ ​ ​

2023
GBPm

  ​ ​ ​

2024
GBPm

  ​ ​ ​

2025
GBPm

Interest on short-term bank loans, overdrafts and commercial paper

​

(31)

(48)

(47)

Interest on term debt

​

(263)

(228)

(222)

Interest on lease liabilities

​

(6)

(5)

(4)

Total borrowing costs

​

(300)

(281)

(273)

Losses on loans and derivatives not designated as hedges

​

(20)

(20)

(30)

Fair value (losses)/gains on designated fair value hedge relationships

​

(2)

​

(2)

​

2

Net interest on defined benefit pension schemes

​

(1)

(1)

3

Finance costs

​

(323)

(304)

(298)

Interest on bank deposits

​

8

6

12

Finance income

​

8

6

12

Net finance costs

​

(315)

(298)

(286)