A 
510.00p
+0.39%
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
£47.2m
FY2016FY2025
Net income
£6.8m
FY2016FY2025
Free cash flow
£5.5m
FY2016FY2025
Shareholders' equity
£41.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £47.2m | £38.2m | £31.0m | £33.1m | £33.4m | £30.5m | £29.0m | £28.3m | £29.2m | £24.3m |
| Gross profit | £23.4m | £17.3m | £14.0m | £13.5m | £15.5m | £15.2m | £13.9m | £13.5m | £14.3m | £11.4m |
| Research and development | £224,000 | £215,000 | £63,000 | £98,000 | £42,000 | £43,000 | £23,000 | £110,000 | £121,000 | £587,000 |
| Operating income | £7.9m | £4.9m | £2.5m | £3.6m | £5.6m | £5.3m | £4.6m | £4.5m | £4.0m | £3.6m |
| Net income | £6.8m | £4.1m | £2.5m | £3.3m | £4.7m | £4.2m | £3.7m | £4.0m | £3.0m | £2.6m |
| Diluted earnings per share | 0.38 | 0.24 | 0.15 | 0.14 | 0.20 | 0.18 | 0.16 | 0.19 | 0.14 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £50.5m | £47.1m | £40.2m | £48.5m | £48.0m | £44.5m | £40.4m | £38.2m | £37.2m | £34.0m |
| Cash and short-term investments | £12.4m | £10.5m | £10.6m | £13.6m | £15.5m | £15.8m | £13.8m | £12.9m | £13.6m | £11.1m |
| Total liabilities | £9.5m | £10.9m | £6.5m | £7.2m | £7.7m | £7.0m | £4.9m | £5.0m | £6.7m | £5.5m |
| Debt | £244,000 | £74,000 | £79,000 | £52,000 | £85,000 | £90,000 | £188,000 | £198,000 | — | — |
| Shareholders' equity | £41.0m | £36.3m | £33.6m | £41.3m | £40.3m | £37.5m | £35.6m | £33.1m | £30.5m | £28.5m |
| Shares outstanding | 18m | 17m | 17m | 24m | 23m | 23m | 23m | 22m | 21m | 21m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £6.0m | £5.8m | £8.7m | £1.1m | £3.1m | £5.8m | £4.0m | £2.7m | £5.2m | £3.8m |
| Capital spending | −£566,000 | −£1.9m | −£743,000 | −£1.5m | −£1.4m | −£1.3m | −£1.7m | −£695,000 | −£151,000 | −£729,000 |
| Free cash flow | £5.5m | £3.9m | £8.0m | −£453,000 | £1.7m | £4.6m | £2.3m | £2.0m | £5.1m | £3.1m |
| Dividends paid | −£2.1m | −£1.8m | −£1.8m | −£2.2m | −£2.0m | −£1.7m | −£1.6m | −£1.4m | −£1.6m | −£1.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £24.3m | £24.5m | £22.7m | £21.2m | £17.0m | £15.7m | £15.3m | £16.6m |
| Gross profit | £11.9m | £12.0m | £11.7m | £9.6m | £7.8m | £7.3m | £6.4m | £6.9m |
| Operating income | £3.7m | £4.6m | £3.3m | £2.9m | £1.9m | £1.3m | £1.2m | £1.2m |
| Net income | £3.1m | £4.0m | £2.7m | £2.4m | £1.7m | £1.3m | £1.2m | £1.2m |
| Diluted earnings per share | 0.17 | 0.22 | 0.15 | 0.14 | 0.10 | 0.08 | 0.07 | 0.05 |
| Cash from operations | £1.0m | £4.0m | £1.0m | £2.0m | £3.0m | £5.0m | £3.0m | £2.0m |
| Capital spending | — | — | — | −£1.0m | — | — | — | — |
| Free cash flow | — | — | — | £1.0m | — | — | — | — |
| Total assets | £49.5m | £50.5m | £48.4m | £47.1m | £41.8m | £40.2m | £48.3m | £48.5m |
| Cash and short-term investments | £11.0m | £12.4m | £11.1m | £10.5m | £13.5m | £10.6m | £16.4m | £13.6m |
| Debt | £134,000 | £137,000 | £61,000 | £66,000 | £34,000 | £33,000 | £34,000 | £35,000 |
| Shareholders' equity | £42.1m | £41.0m | £39.1m | £36.3m | £35.4m | £33.6m | £43.1m | £41.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.5% | 9.1% | 7.3% |
| Operating income | 29.8% | 8.4% | 8.3% |
| Net income | 26.9% | 9.9% | 6.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 47.7% | 45.6% | 46.3% | 46.8% |
| Operating margin | 15.0% | 12.7% | 14.0% | 14.4% |
| Net margin | 12.7% | 11.2% | 12.0% | 12.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.6 | 16.0 | 17.2 | 36.4 | 30.6 | 26.4 | 21.3 | 17.5 | 28.4 | 23.1 |
| Price to sales | 1.8 | 1.7 | 1.4 | 3.6 | 4.3 | 3.6 | 2.7 | 2.5 | 2.9 | 2.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 17 years. Last went ex-dividend on 13 Nov 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.116 | 0.108 | 0.106 | 0.102 | 0.093 | 0.082 | 0.075 | 0.067 |
- 23-to-1 reverse split · 4 Oct 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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