A 
1,880.00p
0.00%
Close of 9 Nov 2026, in pence
Search any instrument
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
£155.4m
FY2016FY2025
Net income
£96.2m
FY2016FY2025
Free cash flow
—
FY2016FY2025
Shareholders' equity
£1.39bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £155.4m | £169.2m | £101.9m | £110.1m | £371.1m | −£215.7m | £302.8m | −£212.2m | £265.7m | £65.0m |
| Gross profit | £142.7m | £171.0m | £101.9m | £98.5m | £371.1m | −£215.7m | £302.8m | −£212.2m | £265.8m | £65.0m |
| Research and development | — | — | £1 | £1 | £4 | £21 | £2 | £1 | £2 | £1 |
| Operating income | £100.8m | £158.1m | £99.1m | −£154.8m | £367.5m | −£219.2m | £299.5m | −£215.1m | £263.0m | £63.0m |
| Net income | £96.2m | £151.6m | £99.0m | −£156.8m | £367.5m | −£219.2m | £299.5m | −£215.9m | £262.3m | £62.4m |
| Diluted earnings per share | 1.18 | 1.81 | 1.17 | -1.79 | 4.18 | -2.47 | 3.33 | -2.38 | 2.80 | 0.66 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.47bn | £1.50bn | £1.37bn | £1.33bn | £1.56bn | £1.22bn | £1.42bn | £1.17bn | £1.44bn | £1.26bn |
| Cash and short-term investments | £5.1m | £1.3m | £2.7m | £1.7m | £3.4m | £3.0m | £187,000 | £59,000 | £293,000 | £241,000 |
| Total liabilities | £75.3m | £104.2m | £72.1m | £75.2m | £87.3m | £74.1m | £13.9m | £17.7m | £8.8m | £36.1m |
| Debt | £75.0m | £103.9m | £71.8m | £75.0m | £86.4m | £72.8m | £13.7m | £17.4m | £8.6m | £35.7m |
| Shareholders' equity | £1.39bn | £1.40bn | £1.30bn | £1.25bn | £1.47bn | £1.15bn | £1.41bn | £1.15bn | £1.44bn | £1.22bn |
| Shares outstanding | 82m | 84m | 84m | 88m | 88m | 89m | 90m | 91m | 94m | 95m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £43.0m | £43.7m | £46.2m | £42.6m | £25.9m | £8.6m | £33.6m | £39.0m | £32.5m | £35.1m |
| Capital spending | −£43.0m | — | — | — | — | — | — | — | — | — |
| Free cash flow | — | £43.7m | £46.2m | £42.6m | £25.9m | £8.6m | £33.6m | £39.0m | £32.5m | £35.1m |
| Dividends paid | −£41.6m | −£43.1m | −£41.0m | −£31.7m | −£30.0m | −£32.6m | −£34.8m | −£33.2m | −£28.8m | −£27.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £74.1m | £68.9m | £86.5m | £68.1m | £173.6m | £86.8m | £53.1m | £50.4m |
| Gross profit | £68.1m | £56.3m | £86.5m | £61.8m | £173.6m | £86.8m | £49.2m | £50.4m |
| Operating income | £74.6m | £20.4m | £80.3m | −£9.3m | £167.4m | £83.7m | £95.2m | £47.6m |
| Net income | £72.1m | £18.6m | £77.6m | −£12.5m | £164.1m | £82.0m | £93.1m | £46.6m |
| Diluted earnings per share | 0.92 | 0.23 | 0.95 | -0.15 | 1.96 | 0.98 | 1.10 | 0.55 |
| Cash from operations | £22.0m | £21.0m | £21.0m | £18.0m | £19.0m | £11.0m | £23.0m | £12.0m |
| Capital spending | — | −£21.0m | — | — | — | — | — | — |
| Free cash flow | — | £0 | — | — | — | — | — | — |
| Total assets | £1.48bn | £1.47bn | £1.49bn | £1.50bn | £1.53bn | £1.53bn | £1.37bn | £1.37bn |
| Cash and short-term investments | £4.9m | £5.1m | £4.7m | £1.3m | £5.7m | £5.7m | £2.7m | £2.7m |
| Debt | — | — | £73.9m | — | — | — | — | — |
| Shareholders' equity | £1.39bn | £1.39bn | £1.41bn | £1.40bn | £1.43bn | £1.43bn | £1.30bn | £1.30bn |
Financial ratios
Data as of 4 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 91.9% | 101.1% | 100.0% | 89.4% | 100.0% | 100.0% | — | — | — |
| Operating margin | 64.8% | 186.9% | 97.3% | -281.2% | 99.0% | 101.6% | — | — | — |
| Net margin | 61.9% | 89.6% | 97.2% | -142.4% | 99.0% | 101.6% | — | — | — |
| Return on equity | 6.9% | 10.8% | 7.6% | -12.5% | 25.0% | -19.1% | — | — | — |
| Return on assets | 6.6% | 10.1% | 7.2% | -11.8% | 23.6% | -17.9% | — | — | — |
| Free cash flow yield | 0.1% | — | — | — | — | — | — | — | — |
| Revenue growth | -8.1% | 66.1% | -7.5% | -70.3% | -272.1% | -171.2% | — | — | — |
| Earnings growth | -36.5% | 53.1% | -163.2% | -142.7% | -267.7% | -173.2% | — | — | — |
| Current ratio | 15.58x | 8.33x | 26.06x | 0.05x | 5.85x | 3.19x | — | — | — |
| Debt to equity | — | — | — | 0.06x | 0.06x | 0.06x | 0.01x | 0.02x | 0.01x |
| Equity ratio | 94.9% | 93.1% | 94.7% | 94.3% | 94.4% | 93.9% | — | — | — |
| Interest coverage | 22.25x | 49.34x | 23.92x | -170.88x | 394.34x | -272.91x | — | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | -0.0% | — |
| Buybacks as a share of market value | 2.6% | 0.7% | 3.8% | 0.2% | 1.0% | 1.2% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.2% | — | 2.9% |
| Operating income | — | — | -1.1% |
| Net income | — | — | -1.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 96.7% | 95.8% | 96.8% | 98.2% |
| Operating margin | 79.7% | 37.9% | 50.8% | 71.1% |
| Net margin | 76.4% | 35.4% | 48.9% | 69.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.4 | 8.1 | 11.7 | -7.4 | 3.5 | -5.1 | 4.6 | -4.8 | 4.7 | 16.8 |
| Price to sales | 8.3 | 7.3 | 11.4 | 10.5 | 3.5 | -5.1 | 4.6 | -4.9 | 4.7 | 16.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 35 years. Last went ex-dividend on 6 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.478 | 0.443 | 0.422 | 0.399 | 0.363 | 0.339 | 0.324 | 0.308 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.