B 
571.00p
+2.33%
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
−£37.4m
FY2016FY2025
Net income
−£40.2m
FY2016FY2025
Free cash flow
−£2.5m
FY2016FY2025
Shareholders' equity
£569.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | −£37.4m | £21.1m | £94.4m | −£199.7m | £198.1m | £54.5m | £20.2m | £35.9m | £62.8m | £43.1m |
| Gross profit | −£38.9m | £94.8m | £94.4m | −£199.7m | £198.1m | £54.5m | £20.2m | £33.0m | £60.1m | £40.7m |
| Research and development | — | — | £23 | £5 | £9 | £2 | £3 | £1 | £1 | £2 |
| Operating income | −£39.7m | £92.3m | £92.4m | −£200.2m | £197.3m | £54.0m | £19.5m | £35.2m | £62.1m | £42.6m |
| Net income | −£40.2m | £91.6m | £91.6m | −£201.4m | £196.6m | £55.9m | £19.0m | £34.8m | £61.2m | £42.9m |
| Diluted earnings per share | -0.41 | 0.92 | 0.91 | -1.99 | 1.97 | 0.66 | 0.22 | 0.40 | 0.66 | 0.43 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £572.8m | £695.7m | £598.6m | £487.3m | £690.4m | £411.8m | £342.8m | £338.5m | £339.7m | £297.9m |
| Cash and short-term investments | £16.8m | £8,000 | — | £7.3m | — | £141,000 | £268,000 | — | — | £432,000 |
| Total liabilities | £3.8m | £55.4m | £32.9m | £3.5m | £38.7m | £21.8m | £4.3m | £8.0m | £8.9m | £3.0m |
| Debt | £1.5m | £50.1m | £27.6m | £182,000 | £27.7m | £21.8m | £173,000 | £5.6m | £5.7m | — |
| Shareholders' equity | £569.1m | £640.3m | £565.7m | £483.8m | £651.7m | £387.9m | £338.4m | £330.4m | £330.7m | £294.9m |
| Shares outstanding | 97m | 100m | 101m | 101m | 100m | 84m | 84m | 86m | 92m | 99m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£2.5m | −£6.9m | −£25.7m | −£3.1m | −£71.6m | −£13.2m | £17.0m | £35.3m | £19.1m | £6.5m |
| Capital spending | — | −£1.4m | — | — | — | — | — | — | — | — |
| Free cash flow | −£2.5m | −£8.3m | −£25.7m | −£3.1m | −£71.6m | −£13.2m | £17.0m | £35.3m | £19.1m | £6.5m |
| Dividends paid | −£6.8m | −£6.8m | −£6.7m | −£6.3m | −£5.3m | −£4.9m | −£4.9m | −£5.1m | −£5.4m | −£5.2m |
Latest quarters
By quarter end
| Feb 2026 | Aug 2025 | Feb 2025 | Aug 2024 | Feb 2024 | Nov 2023 | Aug 2023 | Feb 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £42.5m | −£34.2m | £1.8m | −£6.3m | £107.3m | £53.6m | £16.8m | £81.7m |
| Gross profit | £42.5m | −£36.6m | £1.8m | −£6.3m | £107.3m | £53.6m | £14.4m | £79.5m |
| Operating income | £40.2m | −£36.9m | −£172,000 | −£12.6m | £104.9m | £52.2m | £14.1m | £79.1m |
| Net income | £39.8m | −£38.8m | −£1.4m | −£12.3m | £103.9m | £51.9m | £12.5m | £79.1m |
| Diluted earnings per share | 0.42 | -0.40 | -0.01 | -0.12 | 1.04 | 0.52 | 0.12 | 0.78 |
| Cash from operations | −£4.0m | −£2.0m | — | £4.0m | −£3.0m | −£10.0m | £3.0m | — |
| Capital spending | — | — | — | −£4.0m | — | — | — | — |
| Free cash flow | — | — | — | £0 | — | — | — | — |
| Total assets | £617.6m | £572.8m | £686.7m | £695.7m | £721.4m | £721.4m | £598.6m | £582.5m |
| Cash and short-term investments | £638,000 | £16.8m | — | £8,000 | — | — | — | — |
| Debt | £12.2m | £1.5m | £59.0m | £50.1m | £55.5m | £55.5m | £27.6m | £23.9m |
| Shareholders' equity | £587.1m | £569.1m | £620.6m | £640.3m | £662.6m | £662.6m | £565.7m | £555.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -42.8% | — | — |
| Operating income | -41.7% | — | — |
| Net income | -41.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -343.3% | 40.7% | 155.1% | 120.5% |
| Operating margin | -323.3% | 45.4% | 149.6% | 119.8% |
| Net margin | -315.9% | 48.0% | 148.1% | 118.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -14.1 | 6.0 | 6.2 | -2.4 | 3.5 | 8.0 | 18.1 | 7.6 | 5.1 | 6.4 |
| Price to sales | -15.1 | 25.8 | 6.0 | -2.4 | 3.5 | 8.2 | 17.0 | 7.3 | 5.0 | 6.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 21 years. Last went ex-dividend on 28 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.072 | 0.07 | 0.068 | 0.066 | 0.063 | 0.061 | 0.059 | 0.057 |
- 1-to-1 reverse split · 30 Nov 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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