3 
400.00p
+1.01%
Close of 9 Nov 2026, in pence
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in GBP, from our data supplier.
Revenue
£218.0m
FY2017FY2026
Net income
£295.0m
FY2017FY2026
Free cash flow
−£32.0m
FY2017FY2026
Shareholders' equity
£3.74bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £218.0m | £368.0m | £386.0m | £413.0m | £412.0m | £210.0m | £229.0m | £268.3m | £482.6m | £147.2m |
| Operating income | £325.0m | £333.0m | £347.0m | £405.0m | £424.0m | £186.0m | £206.0m | £258.0m | £500.0m | £206.4m |
| Net income | £295.0m | £333.0m | £347.0m | £394.0m | £404.0m | £206.0m | £224.0m | £258.5m | £479.6m | £146.3m |
| Diluted earnings per share | 0.32 | 0.36 | 0.38 | 0.43 | 0.45 | 0.23 | 0.25 | 0.29 | 0.59 | 0.18 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £4.33bn | £3.88bn | £3.93bn | £3.71bn | £3.02bn | £2.42bn | £2.30bn | £1.97bn | £1.85bn | £1.91bn |
| Cash and short-term investments | £4.0m | £4.0m | £5.0m | £5.0m | £17.0m | £462.0m | £413.0m | £257.0m | £282.0m | £17.1m |
| Total liabilities | £588.0m | £316.0m | £590.0m | £606.0m | £316.0m | £25.0m | £29.0m | £63.2m | £144.0m | £171.0m |
| Debt | £535.0m | £260.0m | £510.0m | £501.0m | £231.0m | — | — | — | — | £100.0m |
| Shareholders' equity | £3.74bn | £3.56bn | £3.34bn | £3.10bn | £2.70bn | £2.39bn | £2.27bn | £1.90bn | £1.71bn | £1.73bn |
| Shares outstanding | 922m | 922m | 922m | 922m | 899m | 891m | 891m | 885m | 810m | 810m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£32.0m | £376.0m | £118.0m | −£259.0m | −£578.0m | £136.0m | £16.0m | £46.0m | £878.3m | −£438.7m |
| Capital spending | — | — | −£37.0m | — | — | — | — | — | — | — |
| Free cash flow | −£32.0m | £376.0m | £81.0m | −£259.0m | −£578.0m | £136.0m | £16.0m | £46.0m | £878.3m | −£438.7m |
| Dividends paid | −£120.0m | −£113.0m | −£106.0m | −£97.0m | −£90.0m | −£85.0m | −£76.0m | −£66.9m | −£504.0m | −£67.5m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £103.0m | £115.0m | £248.0m | £138.0m | £159.0m | £79.5m | £196.0m | £107.5m |
| Operating income | £45.0m | £280.0m | £221.0m | £112.0m | £104.0m | £52.0m | £190.0m | £95.5m |
| Net income | £37.0m | £258.0m | £164.0m | £169.0m | £156.0m | £78.0m | £191.0m | £95.5m |
| Diluted earnings per share | 0.04 | 0.28 | 0.18 | 0.18 | 0.17 | 0.08 | 0.21 | 0.10 |
| Cash from operations | −£8.0m | −£6.0m | £410.0m | −£34.0m | £180.0m | £90.0m | −£62.0m | −£31.0m |
| Total assets | £4.33bn | £4.15bn | £3.88bn | £4.09bn | £3.93bn | £3.93bn | £3.94bn | £3.94bn |
| Cash and short-term investments | £4.0m | £6.0m | £4.0m | £1.0m | £5.0m | £5.0m | £6.0m | £6.0m |
| Shareholders' equity | £3.74bn | £3.76bn | £3.56bn | £3.46bn | £3.34bn | £3.34bn | £3.24bn | £3.24bn |
Financial ratios
Data as of 23 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2017 | FY2016 | FY2015 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 149.1% | 176.1% | 166.3% | 91.3% | 100.0% | 99.0% | — | — | — | — | — | — |
| Net margin | 135.3% | 90.5% | 89.9% | 95.4% | 98.1% | 98.1% | — | — | — | — | — | — |
| Return on equity | 7.9% | 9.3% | 10.4% | 12.7% | 14.9% | 8.6% | — | — | — | — | — | — |
| Return on assets | 6.8% | 8.6% | 8.8% | 10.6% | 13.4% | 8.5% | — | — | — | — | — | — |
| Free cash flow yield | — | — | 0.0% | — | — | — | — | — | — | — | — | — |
| Revenue growth | -40.8% | -4.7% | -6.5% | 0.2% | 96.2% | -8.3% | — | — | — | — | — | — |
| Earnings growth | -11.4% | -4.0% | -11.9% | -2.5% | 96.1% | -8.0% | — | — | — | — | — | — |
| Current ratio | 0.27x | 0.12x | 0.36x | 0.79x | 3.44x | 45.62x | — | — | — | — | — | — |
| Debt to equity | — | — | — | — | — | — | 0.12x | 0.00x | 0.00x | 0.14x | 0.15x | 0.17x |
| Equity ratio | 86.4% | 91.9% | 85.0% | 83.7% | 89.5% | 99.0% | — | — | — | — | — | — |
| Interest coverage | 18.06x | 21.60x | 20.06x | 26.93x | 137.33x | 104.00x | — | — | — | — | — | — |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | -2.6% | -0.9% | 0.0% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -19.2% | 0.8% | -1.2% |
| Operating income | -7.1% | 11.8% | 6.9% |
| Net income | -9.2% | 7.4% | 5.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 112.3% | 101.8% | 100.6% | 99.3% |
| Net margin | 107.2% | 98.8% | 98.6% | 96.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.5 | 10.4 | 8.4 | 7.5 | 7.4 | 15.3 | 12.3 | 10.1 | 4.4 | 11.6 |
| Price to sales | 16.9 | 9.4 | 7.6 | 7.2 | 7.3 | 15.1 | 12.0 | 9.7 | 4.3 | 11.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 19 years. Last went ex-dividend on 11 Jun 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.067 | 0.13 | 0.123 | 0.115 | 0.108 | 0.101 | 0.095 | 0.089 |
- 19-to-15 reverse split · 15 Mar 2018
- 10-to-9 reverse split · 8 Jul 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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