B 
405.80p
+2.99%
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, before interest expense
£476.7m
FY2018FY2025
Net income
£41.5m
FY2018FY2025
Total assets
£5.22bn
FY2018FY2025
Shareholders' equity
£995.3m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | £476.7m | £388.3m | £295.3m | £265.7m | £212.0m | £191.8m | £198.8m | £126.5m |
| Research and development | — | — | £0 | £0 | £0 | £0 | £0 | £0 |
| Operating income | £174.0m | £82.1m | £99.9m | £118.8m | £70.3m | £57.8m | £76.2m | £7.3m |
| Net income | £41.5m | £64.8m | £70.7m | £120.6m | £57.8m | £36.5m | £44.1m | −£9.6m |
| Diluted earnings per share | 0.05 | 0.05 | 0.09 | 0.15 | 0.08 | 0.04 | 0.05 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | £5.22bn | £4.09bn | £2.38bn | £1.79bn | £1.28bn | £1.07bn | £462.4m | £464.6m |
| Cash and short-term investments | £3.24bn | £2.07bn | £1.60bn | £1.04bn | £609.9m | £429.6m | £12.1m | £37.1m |
| Total liabilities | £4.03bn | £2.90bn | £1.66bn | £1.02bn | £563.8m | £680.5m | £105.4m | £159.8m |
| Debt | £573.3m | £2.32bn | £1.28bn | £711.4m | £355.8m | £141.7m | £42.3m | £77.3m |
| Shareholders' equity | £995.3m | £983.4m | £721.2m | £772.7m | £716.3m | £308.8m | £266.0m | £226.4m |
| Shares outstanding | 885m | 1,238m | 794m | 822m | 709m | 823m | 823m | 823m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | £422.2m | £250.6m | £290.1m | £268.3m | £120.0m | £79.4m | £183.3m | £91.7m |
| Operating income | £230.0m | £57.3m | £182.7m | £177.1m | −£95.0m | £26.0m | £79.1m | £40.2m |
| Net income | £22.7m | £5.4m | £36.1m | £21.7m | £21.6m | £21.6m | £22.5m | £11.3m |
| Diluted earnings per share | 0.02 | 0.01 | 0.04 | 0.02 | 0.02 | 0.02 | 0.03 | 0.01 |
| Total assets | £5.86bn | £5.22bn | £4.60bn | £4.09bn | £2.79bn | £2.79bn | £2.45bn | £2.38bn |
| Cash and short-term investments | £354.6m | £3.24bn | £2.63bn | £2.07bn | £1.86bn | £123.9m | £1.60bn | £246.3m |
| Debt | £50.5m | £3.16bn | £2.75bn | £2.24bn | £1.52bn | — | £1.21bn | — |
| Shareholders' equity | £1.08bn | £995.3m | £956.0m | £983.4m | £723.0m | £723.0m | £721.2m | £721.2m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 25.6% | 26.2% | 30.9% | 49.7% | 46.1% | 30.1% | — | — |
| Net margin | 8.7% | 16.7% | 23.9% | 45.4% | 27.3% | 19.0% | — | — |
| Return on equity | 4.2% | 6.6% | 9.8% | 15.6% | 8.1% | 11.8% | — | — |
| Return on assets | 0.8% | 1.6% | 3.0% | 6.7% | 4.5% | 3.4% | — | — |
| Revenue growth | 22.8% | 31.5% | 11.1% | 25.3% | 10.5% | -3.5% | — | — |
| Earnings growth | -36.0% | -8.3% | -41.4% | 108.7% | 58.4% | -17.1% | — | — |
| Current ratio | 7.50x | 5.65x | 5.32x | 4.84x | 5.42x | 2.00x | — | — |
| Debt to equity | 3.17x | 2.28x | 1.67x | 0.82x | 0.34x | 1.17x | — | — |
| Equity ratio | 19.1% | 24.0% | 30.3% | 43.2% | 56.0% | 28.8% | — | — |
| Interest coverage | 3.37x | 4.82x | 17.23x | 28.11x | 16.58x | 11.58x | — | — |
| 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 | 28.5% | -55.8% | 3.4% | -16.0% | 13.9% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.1% | 15.6% | — |
| Operating income | 13.6% | 24.7% | — |
| Net income | -29.9% | 2.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 29.6% | 33.3% | 32.9% | — |
| Net margin | 12.3% | 20.9% | 21.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 60.5 | 68.8 | 31.4 | 13.0 | 60.5 |
| Price to sales | 6.5 | 12.2 | 7.7 | 6.1 | 17.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 23 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 0.047 | 0.093 | 0.09 | 0.084 | 0.076 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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