I 
165.50p
0.00%
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
£36.3m
FY2016FY2025
Net income
£30.5m
FY2016FY2025
Free cash flow
—
FY2016FY2025
Shareholders' equity
£410.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £36.3m | £32.4m | £31.3m | −£33.8m | £14.0m | £13.0m | £23.4m | −£6.0m | £15.4m | £19.3m |
| Gross profit | £33.9m | £28.5m | £31.3m | −£33.8m | £14.0m | £13.0m | £23.4m | −£6.1m | £14.0m | £18.1m |
| Research and development | — | — | £1 | £3 | £1 | £1 | £2 | — | — | — |
| Operating income | £34.4m | £26.3m | £28.6m | −£34.4m | £13.4m | £12.4m | £22.9m | −£6.5m | £14.9m | £18.8m |
| Net income | £30.5m | £26.6m | £31.8m | −£34.6m | £13.3m | £12.4m | £22.9m | −£6.5m | £14.9m | £18.7m |
| Diluted earnings per share | 0.13 | 0.13 | 0.18 | -0.10 | 0.05 | 0.06 | 0.23 | -0.07 | 0.16 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £457.0m | £395.5m | £353.8m | £440.7m | £366.5m | £211.7m | £192.6m | £175.5m | £187.1m | £174.6m |
| Cash and short-term investments | £21.2m | £8.2m | £8.1m | £9.1m | £8.2m | £2.9m | £6.9m | £4.2m | £8.8m | £14.6m |
| Total liabilities | £46.7m | £49.7m | £49.2m | £159.6m | £241.0m | £13.5m | £457,000 | £2.0m | £451,000 | £425,000 |
| Debt | £38.0m | £45.1m | £48.1m | £53.8m | £39.1m | £13.5m | — | — | — | — |
| Shareholders' equity | £410.3m | £345.8m | £304.6m | £281.1m | £326.7m | £197.7m | £192.2m | £173.5m | £186.6m | £174.2m |
| Shares outstanding | 237m | 202m | 179m | 338m | 270m | 203m | 99m | 97m | 95m | 91m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £14.5m | −£12.7m | £8.2m | £12.8m | £14.0m | £1.3m | £8.5m | £2.0m | −£3.2m | £2.4m |
| Capital spending | −£14.5m | −£24.9m | — | — | — | −£22.2m | — | — | — | — |
| Free cash flow | — | −£37.6m | £8.2m | £12.8m | £14.0m | −£20.9m | £8.5m | £2.0m | −£3.2m | £2.4m |
| Dividends paid | −£26.1m | −£22.2m | −£20.4m | −£18.8m | −£14.4m | −£10.1m | −£9.8m | −£9.6m | −£9.3m | −£8.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £13.1m | £20.4m | £15.9m | £19.4m | £13.0m | £6.1m | £27.9m | £14.4m |
| Gross profit | £13.1m | £19.1m | £10.1m | £18.3m | £12.1m | £6.1m | £10.4m | £14.4m |
| Operating income | £11.0m | £20.6m | £13.8m | £14.9m | £11.4m | £5.3m | £26.5m | £13.7m |
| Net income | £12.1m | £19.1m | £11.4m | £15.3m | £11.3m | £5.6m | £25.8m | £12.9m |
| Diluted earnings per share | 0.05 | 0.08 | 0.05 | 0.08 | 0.06 | 0.03 | 0.14 | 0.07 |
| Cash from operations | −£54.0m | £3.0m | £10.0m | £16.0m | £8.0m | −£7.0m | −£2.0m | £2.0m |
| Capital spending | — | −£3.0m | — | −£16.0m | — | — | — | — |
| Free cash flow | — | £0 | — | £0 | — | — | — | — |
| Total assets | £544.4m | £457.0m | £423.6m | £395.5m | £376.2m | £376.2m | £353.8m | £353.8m |
| Cash and short-term investments | £24.9m | £21.2m | £20.3m | £8.2m | £5.4m | £5.4m | £8.1m | £8.1m |
| Debt | £57.1m | — | £45.2m | £45.1m | £42.7m | £42.7m | £48.1m | £48.1m |
| Shareholders' equity | £481.5m | £410.3m | £366.8m | £345.8m | £329.7m | £329.7m | £304.6m | £304.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | 22.9% | 23.3% |
| Operating income | — | 22.7% | 23.9% |
| Net income | — | 19.8% | 22.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 90.7% | 90.3% | 93.1% | 94.0% |
| Operating margin | 88.4% | 83.0% | 86.7% | 90.1% |
| Net margin | 83.1% | 82.0% | 85.9% | 89.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.6 | 13.3 | 9.6 | -16.2 | 38.0 | 31.2 | 8.5 | -25.9 | 12.7 | 9.3 |
| Price to sales | 11.4 | 10.9 | 9.8 | -16.6 | 36.3 | 29.8 | 8.3 | -28.0 | 12.3 | 9.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 22 years. Last went ex-dividend on 15 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.092 | 0.123 | 0.117 | 0.115 | 0.113 | 0.108 | 0.10 | 0.10 |
- 1-to-1 reverse split · 2 Apr 2012
- 3.289-to-1 reverse split · 21 Nov 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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