A 
282.00p
+1.08%
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
£82.9m
FY2016FY2025
Net income
£74.0m
FY2016FY2025
Free cash flow
—
FY2016FY2025
Shareholders' equity
£407.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £82.9m | £37.6m | £15.6m | −£7.2m | £49.2m | £50.8m | £42.2m | −£21.3m | £63.6m | £95.0m |
| Gross profit | £80.4m | £37.6m | £15.6m | −£7.2m | £49.2m | £50.8m | £42.2m | −£21.3m | £59.9m | £91.5m |
| Research and development | — | — | £0 | £0 | £1 | £7 | £1 | — | — | — |
| Operating income | £76.8m | £39.2m | £11.7m | −£17.0m | £49.2m | £51.3m | £43.0m | −£21.8m | £63.2m | £94.5m |
| Net income | £74.0m | £34.2m | £8.7m | −£17.1m | £45.3m | £47.9m | £39.7m | −£23.8m | £61.2m | £92.9m |
| Diluted earnings per share | 0.52 | 0.23 | 0.05 | -0.10 | 0.26 | 0.27 | 0.22 | -0.13 | 0.33 | 0.49 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £446.4m | £416.8m | £434.1m | £456.8m | £502.1m | £470.4m | £441.0m | £422.0m | £467.8m | £435.7m |
| Cash and short-term investments | £8.5m | £9.3m | £1.6m | £7.3m | £3.3m | £6.2m | £3.5m | £3.6m | £4.9m | £5.3m |
| Total liabilities | £39.4m | £38.9m | £35.2m | £43.4m | £51.3m | £38.9m | £37.6m | £39.8m | £36.0m | £39.6m |
| Debt | £31.4m | £32.4m | £32.1m | £41.0m | £46.8m | £35.7m | £36.0m | £36.9m | £35.4m | £38.0m |
| Shareholders' equity | £407.0m | £377.9m | £398.9m | £413.4m | £450.8m | £431.5m | £403.4m | £382.2m | £431.9m | £396.0m |
| Shares outstanding | 143m | 151m | 167m | 170m | 174m | 176m | 178m | 180m | 184m | 188m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £16.4m | £15.0m | £16.0m | £12.8m | £12.2m | £10.9m | £12.8m | £14.5m | £12.8m | £14.9m |
| Capital spending | −£16.4m | — | — | — | — | — | — | — | — | — |
| Free cash flow | — | £15.0m | £16.0m | £12.8m | £12.2m | £10.9m | £12.8m | £14.5m | £12.8m | £14.9m |
| Dividends paid | −£27.2m | −£19.2m | −£17.9m | −£16.5m | −£16.3m | −£16.4m | −£16.3m | −£16.3m | −£17.6m | −£16.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £117.9m | £75.2m | £7.7m | £15.3m | £27.3m | £27.2m | £13.6m | −£11.6m |
| Gross profit | £116.5m | £73.8m | £6.6m | £14.2m | £27.3m | £25.7m | £13.6m | −£13.2m |
| Operating income | £115.9m | £74.0m | £6.0m | £13.6m | £25.6m | £25.3m | £12.6m | −£13.6m |
| Net income | £111.8m | £68.3m | £5.7m | £11.3m | £22.9m | £23.6m | £11.8m | −£14.9m |
| Diluted earnings per share | 0.78 | 0.48 | 0.04 | 0.08 | 0.15 | 0.14 | 0.07 | -0.09 |
| Cash from operations | £13.0m | £5.0m | £11.0m | £8.0m | £6.0m | £8.0m | £4.0m | £3.0m |
| Capital spending | — | −£5.0m | — | — | — | — | — | — |
| Free cash flow | — | £0 | — | — | — | — | — | — |
| Total assets | £559.7m | £446.4m | £387.9m | £416.8m | £431.0m | £434.1m | £434.1m | £434.0m |
| Cash and short-term investments | £12.0m | £8.5m | £6.7m | £9.3m | £2.5m | £1.6m | £1.6m | £4.9m |
| Debt | £40.7m | £31.4m | £31.1m | £32.4m | £32.2m | £32.1m | £32.1m | £40.1m |
| Shareholders' equity | £506.0m | £407.0m | £355.6m | £377.9m | £393.9m | £398.9m | £398.9m | £386.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | 10.3% | — |
| Operating income | — | 8.4% | — |
| Net income | — | 9.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 97.9% | 98.1% | 98.9% | 97.4% |
| Operating margin | 96.3% | 86.0% | 92.3% | 95.0% |
| Net margin | 89.8% | 77.5% | 84.4% | 87.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.1 | 9.7 | 39.8 | -21.4 | 8.9 | 8.4 | 9.6 | -14.8 | 6.5 | 3.9 |
| Price to sales | 4.5 | 8.8 | 22.3 | -50.8 | 8.2 | 7.9 | 9.0 | -16.5 | 6.3 | 3.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 20 years. Last went ex-dividend on 23 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.145 | 0.186 | 0.119 | 0.106 | 0.096 | 0.093 | 0.093 | 0.092 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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