B 
38.80p
+2.11%
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
£637.1m
FY2018FY2025
Net income
£6.5m
FY2018FY2025
Free cash flow
£28.4m
FY2018FY2025
Shareholders' equity
£188.7m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £637.1m | £594.1m | £681.1m | £520.2m | £181.1m | £187.1m | £163.3m | £11.7m |
| Gross profit | £121.7m | £105.8m | £112.9m | £86.8m | £38.0m | £37.7m | £32.7m | £2.6m |
| Operating income | £30.7m | £29.2m | £39.2m | £24.3m | £12.1m | £15.6m | £14.7m | £134,000 |
| Net income | £6.5m | £15.4m | £27.7m | £12.4m | £9.7m | £9.3m | £6.5m | −£294,000 |
| Diluted earnings per share | 0.02 | 0.05 | 0.09 | 0.04 | 0.04 | 0.04 | 0.03 | -0.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | £452.1m | £451.8m | £382.6m | £369.1m | £158.4m | £163.2m | £131.4m | £111.3m |
| Cash and short-term investments | £23.1m | £15.6m | £21.6m | £25.0m | £8.6m | £27.3m | £17.0m | £5.3m |
| Total liabilities | £263.3m | £259.8m | £207.1m | £214.6m | £72.9m | £83.1m | £115.0m | £103.2m |
| Debt | £98.9m | £90.6m | £45.6m | £36.9m | £24.0m | £31.5m | £67.5m | £64.5m |
| Shareholders' equity | £188.7m | £192.0m | £175.5m | £154.6m | £85.4m | £80.1m | £16.4m | £8.1m |
| Shares outstanding | 326m | 310m | 305m | 287m | 231m | 230m | 230m | 230m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | £32.7m | £26.6m | £33.6m | £19.1m | £10.2m | £9.9m | £18.9m | £579,000 |
| Capital spending | −£4.4m | −£6.5m | −£10.2m | −£6.8m | −£5.7m | −£973,000 | −£632,000 | −£1.4m |
| Free cash flow | £28.4m | £20.0m | £23.4m | £12.3m | £4.5m | £8.9m | £18.3m | −£841,000 |
| Dividends paid | −£10.9m | −£9.9m | −£9.1m | −£6.1m | −£4.5m | −£2.0m | — | — |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £347.0m | £306.1m | £330.9m | £269.2m | £324.8m | £162.4m | £328.4m | £164.2m |
| Gross profit | £64.4m | £58.7m | £63.0m | £50.9m | £55.0m | £27.5m | £57.9m | £29.0m |
| Operating income | £16.9m | £12.2m | £17.6m | £7.5m | £15.5m | £8.2m | £16.1m | £8.5m |
| Net income | £8.4m | £2.3m | £4.3m | £4.0m | £11.3m | £5.7m | £16.1m | £8.0m |
| Diluted earnings per share | 0.03 | 0.01 | 0.01 | 0.01 | 0.04 | 0.02 | 0.05 | 0.03 |
| Cash from operations | £8.0m | £18.0m | £13.0m | £28.0m | −£1.0m | — | £32.0m | — |
| Capital spending | — | −£3.0m | — | −£1.0m | −£4.0m | — | −£4.0m | — |
| Free cash flow | — | £15.0m | — | £27.0m | −£5.0m | — | £28.0m | — |
| Total assets | £444.2m | £452.1m | £447.9m | £451.8m | £376.4m | £376.4m | £382.6m | £382.6m |
| Cash and short-term investments | £20.0m | £23.1m | £15.9m | £15.6m | £22.9m | £22.9m | £21.6m | £21.6m |
| Debt | £101.5m | £94.8m | £85.4m | £86.7m | £65.4m | £49.6m | £42.4m | £29.8m |
| Shareholders' equity | £190.0m | £188.7m | £189.6m | £192.0m | £181.0m | £180.9m | £175.5m | £175.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.0% | 27.8% | — |
| Operating income | 8.1% | 14.6% | — |
| Net income | -19.2% | -6.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.5% | 17.6% | 18.0% | — |
| Operating margin | 4.9% | 5.1% | 5.4% | — |
| Net margin | 1.8% | 2.5% | 2.9% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | 27.9 | 12.9 | 6.9 | 15.3 | 24.1 | 16.3 | 25.4 |
| Price to sales | 0.3 | 0.3 | 0.3 | 0.4 | 1.3 | 0.8 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 3 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.035 | 0.034 | 0.032 | 0.031 | 0.03 | 0.02 | 0.009 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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