A 
527.00p
+0.57%
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.
Net income
£17.1m
FY2016FY2025
Free cash flow
£9.6m
FY2016FY2025
Shareholders' equity
£359.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | £17.9m | £57.5m | −£37.3m | −£191.6m | £217.0m | −£2.6m | −£1.2m | £76.4m | £87.0m | £10.2m |
| Operating income | £17.1m | £56.6m | −£38.5m | −£192.4m | £216.2m | −£3.4m | −£2.0m | £75.6m | £86.4m | £9.6m |
| Net income | £17.1m | £56.5m | −£38.6m | −£192.4m | £216.2m | −£3.4m | −£2.0m | £75.6m | £86.4m | £9.6m |
| Diluted earnings per share | 0.25 | 0.70 | -0.42 | -1.99 | 2.17 | -0.03 | -0.02 | 1.02 | 1.17 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £401.0m | £455.1m | £454.5m | £541.5m | £795.0m | £554.4m | £569.3m | £435.3m | £338.2m | £257.5m |
| Cash and short-term investments | £16.2m | £15.9m | £14.4m | £15.0m | £22.7m | £26.5m | £16.6m | £10.0m | £7.6m | £7.2m |
| Total liabilities | £41.8m | £42.1m | £27.9m | £42.9m | £66.7m | £26.4m | £26.6m | £27.1m | £14.2m | £16.8m |
| Debt | £40.0m | £40.0m | £24.9m | £40.0m | £65.0m | £24.9m | £24.9m | £24.8m | £13.1m | £16.0m |
| Shareholders' equity | £359.2m | £413.1m | £426.6m | £498.6m | £728.2m | £528.1m | £542.7m | £408.3m | £324.0m | £240.6m |
| Shares outstanding | 69m | 81m | 91m | 97m | 99m | 100m | 94m | 74m | 74m | 74m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £9.6m | £8.5m | £9.6m | £5.6m | £2.4m | £4.9m | £5.6m | £2.9m | £3.1m | £2.6m |
| Free cash flow | £9.6m | £8.5m | £9.6m | £5.6m | £2.4m | £4.9m | £5.6m | £2.9m | £3.1m | £2.6m |
| Dividends paid | −£8.4m | −£9.5m | −£7.7m | −£7.5m | −£7.7m | −£8.8m | −£5.6m | −£4.6m | −£4.5m | −£3.8m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | −£16.3m | £12.2m | £5.7m | £34.0m | £23.4m | −£25.9m | −£11.7m | −£11.5m |
| Operating income | −£16.7m | £11.8m | £5.4m | £33.7m | £22.9m | −£26.4m | −£13.2m | −£12.1m |
| Net income | −£16.7m | £11.8m | £5.4m | £33.7m | £22.9m | −£26.4m | −£13.2m | −£12.1m |
| Diluted earnings per share | -0.30 | 0.18 | 0.07 | 0.44 | 0.27 | -0.29 | -0.15 | -0.13 |
| Cash from operations | £3.0m | £5.0m | £3.0m | £3.0m | £4.0m | £4.0m | — | £5.0m |
| Total assets | £327.4m | £401.0m | £431.5m | £455.1m | £440.9m | £454.5m | £454.5m | £497.8m |
| Cash and short-term investments | £8.5m | £16.2m | £14.4m | £15.9m | £17.1m | £14.4m | £14.4m | £19.6m |
| Debt | £40.0m | £40.0m | £40.0m | £40.0m | £25.0m | £24.9m | £24.9m | — |
| Shareholders' equity | £285.2m | £359.2m | £388.9m | £413.1m | £413.2m | £426.6m | £426.6m | £470.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | 59.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 88.5% | 115.2% | 66.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 20.3 | 7.2 | -10.9 | -2.3 | 3.5 | -188.1 | -294.3 | 4.0 | 4.3 | 28.1 |
| Price to sales | 15.2 | 6.5 | -12.8 | -2.4 | 3.4 | 289.4 | 201.2 | 3.8 | 4.1 | 20.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 32 years. Last went ex-dividend on 19 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.14 | 0.12 | 0.117 | 0.084 | 0.077 | 0.077 | 0.088 | 0.071 |
- 1-to-1 reverse split · 11 Dec 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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