A 
760.00p
0.00%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£163.3m
FY2017FY2026
Net income
£6.8m
FY2017FY2026
Free cash flow
£10.5m
FY2017FY2026
Shareholders' equity
£125.0m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £163.3m | £156.4m | £136.6m | £116.4m | £99.1m | £98.5m | £92.0m | £104.0m | £78.9m | £22.7m |
| Gross profit | £51.4m | £47.4m | £44.0m | £36.9m | £32.6m | £28.4m | £22.2m | £27.7m | £20.1m | £4.1m |
| Research and development | — | — | £621,000 | £453,000 | £403,000 | £388,000 | £553,000 | £626,000 | £509,000 | £76,000 |
| Operating income | £10.5m | £8.5m | £5.6m | £8.2m | £7.2m | £6.1m | £1.2m | £3.7m | −£3.8m | £43,000 |
| Net income | £6.8m | £6.6m | £3.7m | £5.2m | £6.5m | £4.0m | £1.4m | £2.5m | −£4.5m | −£296,000 |
| Diluted earnings per share | 0.20 | 0.19 | 0.11 | 0.16 | 0.20 | 0.12 | 0.04 | 0.08 | -0.14 | -0.01 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £214.8m | £192.8m | £186.3m | £155.4m | £154.7m | £142.6m | £131.2m | £122.3m | £121.7m | £54.5m |
| Cash and short-term investments | £8.0m | £8.6m | £12.1m | £17.7m | £24.3m | £30.1m | £5.1m | £8.9m | £6.6m | £27.7m |
| Total liabilities | £87.8m | £77.5m | £73.3m | £47.0m | £48.9m | £43.6m | £61.3m | £53.0m | £52.7m | £9.6m |
| Debt | £23.5m | £25.5m | £24.0m | £8.6m | £11.0m | £9.8m | £21.4m | £10.9m | £13.7m | £1.3m |
| Shareholders' equity | £125.0m | £113.1m | £110.4m | £106.0m | £103.8m | £97.3m | £69.9m | £69.3m | £69.1m | £44.9m |
| Shares outstanding | 34m | 34m | 34m | 33m | 33m | 33m | 32m | 32m | 31m | 22m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £14.6m | £11.6m | £1.3m | £9.6m | £3.7m | £6.4m | −£51,000 | £9.0m | −£6.9m | −£3.3m |
| Capital spending | −£4.1m | −£2.8m | −£12.4m | −£8.7m | −£5.0m | −£2.4m | −£4.7m | −£2.3m | −£2.7m | −£484,000 |
| Free cash flow | £10.5m | £8.8m | −£11.1m | £875,000 | −£1.3m | £4.0m | −£4.8m | £6.7m | −£9.5m | −£3.7m |
| Dividends paid | −£1.6m | −£1.5m | −£1.4m | −£1.3m | −£1.3m | −£1.2m | −£1.2m | −£1.1m | −£906,000 | −£886,000 |
Latest quarters
By quarter end
| May 2026 | Nov 2025 | May 2025 | Nov 2024 | May 2024 | Nov 2023 | May 2023 | Feb 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £85.2m | £78.1m | £77.4m | £79.0m | £71.4m | £65.2m | £66.4m | £33.2m |
| Gross profit | £27.6m | £23.8m | £24.7m | £23.7m | £23.4m | £20.6m | £21.3m | £11.0m |
| Operating income | £5.0m | £5.5m | £3.9m | £4.5m | £2.1m | £3.6m | £4.6m | £2.2m |
| Net income | £3.0m | £3.8m | £3.3m | £3.3m | £822,000 | £2.8m | £3.0m | £1.7m |
| Diluted earnings per share | 0.09 | 0.11 | 0.10 | 0.10 | 0.02 | 0.09 | 0.09 | 0.05 |
| Cash from operations | £6.0m | £7.0m | £6.0m | £4.0m | £5.0m | −£3.0m | £2.0m | £2.0m |
| Capital spending | −£2.0m | −£1.0m | −£1.0m | −£1.0m | −£3.0m | — | −£1.0m | −£1.0m |
| Free cash flow | £4.0m | £6.0m | £5.0m | £3.0m | £2.0m | — | £1.0m | £1.0m |
| Total assets | £214.8m | £196.4m | £192.8m | £196.6m | £186.3m | £181.3m | £155.4m | £155.4m |
| Cash and short-term investments | £8.0m | £5.6m | £8.6m | £10.3m | £12.1m | £13.9m | £17.7m | £17.7m |
| Debt | £19.5m | £20.6m | £11.4m | £18.3m | £16.8m | £16.1m | £5.2m | — |
| Shareholders' equity | £125.0m | £117.3m | £113.1m | £113.2m | £110.4m | £110.3m | £106.0m | £61.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.9% | 10.6% | 22.7% |
| Operating income | 8.5% | 11.6% | — |
| Net income | 9.1% | 11.1% | 32.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.9% | 31.4% | 31.2% | 29.2% |
| Operating margin | 6.0% | 5.8% | 6.0% | 4.3% |
| Net margin | 4.2% | 3.9% | 4.2% | 3.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 38.5 | 24.6 | 34.5 | 24.8 | 22.0 | 35.6 | 65.8 | 35.6 | -12.5 | -133.2 |
| Price to sales | 1.6 | 1.0 | 0.9 | 1.1 | 1.4 | 1.4 | 1.0 | 0.9 | 0.7 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 28 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.048 | 0.046 | 0.043 | 0.056 | 0.024 | 0.037 | 0.035 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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