A 
430.00p
+3.24%
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
£2.46bn
FY2016FY2025
Net income
−£298.4m
FY2016FY2025
Free cash flow
£73.2m
FY2016FY2025
Shareholders' equity
£212.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £2.46bn | £2.90bn | £3.54bn | £3.94bn | £3.91bn | £3.26bn | £2.73bn | £2.42bn | £1.92bn | £1.44bn |
| Gross profit | £1.16bn | £1.26bn | £1.59bn | £1.72bn | £1.78bn | £1.55bn | £1.33bn | £1.24bn | £958.3m | £722.2m |
| Operating income | −£45.4m | −£89.3m | −£115.9m | −£9.8m | £190.1m | £151.1m | £35.1m | £101.9m | £79.6m | £63.0m |
| Net income | −£298.4m | −£338.7m | −£223.1m | −£30.8m | £128.4m | £113.3m | £24.6m | £82.4m | £64.1m | £24.4m |
| Diluted earnings per share | -2.50 | -2.84 | -2.13 | -0.31 | 1.20 | 1.26 | 0.29 | 0.98 | 0.77 | 0.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.67bn | £2.27bn | £2.63bn | £3.00bn | £2.88bn | £1.99bn | £1.25bn | £1.01bn | £840.4m | £650.0m |
| Cash and short-term investments | £318.9m | £391.0m | £353.3m | £323.0m | £662.7m | £407.5m | — | £42.7m | £160.3m | £173.3m |
| Total liabilities | £1.46bn | £1.75bn | £1.76bn | £1.98bn | £1.85bn | £1.18bn | £791.9m | £568.2m | £553.3m | £449.6m |
| Debt | £728.1m | £977.7m | £1.00bn | £856.0m | £792.1m | £313.1m | £75.0m | — | — | — |
| Shareholders' equity | £212.4m | £521.3m | £866.7m | £1.01bn | £1.03bn | £810.3m | £453.6m | £438.8m | £287.1m | £200.4m |
| Shares outstanding | 119m | 119m | 105m | 100m | 106m | 90m | 84m | 84m | 84m | 83m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £159.1m | £228.0m | £16.4m | −£120.4m | £215.1m | £403.3m | £89.7m | £93.9m | £145.9m | £130.7m |
| Capital spending | −£85.9m | −£133.5m | −£177.9m | −£182.9m | −£157.1m | −£116.6m | −£221.6m | −£213.0m | −£161.5m | −£79.2m |
| Free cash flow | £73.2m | £94.5m | −£161.5m | −£303.3m | £58.0m | £286.7m | −£131.9m | −£119.1m | −£15.6m | £51.5m |
Latest quarters
By quarter end
| Aug 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Feb 2023 | Nov 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.17bn | £1.29bn | £1.40bn | £1.50bn | £1.70bn | £854.5m | £1.84bn | £920.3m |
| Gross profit | £577.8m | £584.2m | £653.1m | £604.2m | £802.3m | £456.4m | £789.3m | £332.4m |
| Operating income | −£500,000 | −£44.9m | £12.9m | −£102.2m | £32.0m | £54.8m | −£74.5m | −£146.4m |
| Net income | −£99.6m | −£198.8m | −£95.5m | −£243.2m | −£4.9m | −£2.5m | −£218.2m | −£109.1m |
| Diluted earnings per share | -0.83 | -1.67 | -0.80 | -2.04 | -0.04 | -0.02 | -2.19 | -1.09 |
| Total assets | £1.67bn | £1.72bn | £2.27bn | £2.33bn | £2.63bn | £2.63bn | £2.79bn | £2.79bn |
| Cash and short-term investments | £318.9m | £220.7m | £391.0m | £332.3m | £353.3m | £353.3m | £308.6m | £308.6m |
| Debt | £604.2m | £686.9m | £948.9m | £947.1m | £975.0m | £975.0m | £1.05bn | £1.05bn |
| Shareholders' equity | £212.4m | £320.8m | £521.3m | £619.6m | £866.7m | £866.7m | £793.7m | £793.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.4% | -5.5% | 8.0% |
| Operating income | 66.7% | — | — |
| Net income | 113.2% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 45.1% | 44.6% | 45.2% | 46.8% |
| Operating margin | -2.5% | -2.0% | 0.4% | 1.4% |
| Net margin | -11.9% | -6.9% | -3.2% | -1.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.1 | -1.6 | -2.0 | -16.5 | 19.8 | 38.0 | 114.8 | 23.2 | 54.8 | 105.7 |
| Price to sales | 0.1 | 0.2 | 0.1 | 0.1 | 0.7 | 1.3 | 1.0 | 0.8 | 1.8 | 1.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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