B 
1,925.00p
-1.28%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£13.0m
FY2017FY2026
Net income
£7.6m
FY2017FY2026
Free cash flow
£8.0m
FY2017FY2026
Shareholders' equity
£11.4m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £13.0m | £13.1m | £13.6m | £12.8m | £11.7m | £10.9m | £10.3m | £9.3m | £8.8m | £7.2m |
| Gross profit | £11.8m | £11.9m | £12.7m | £11.9m | £10.9m | £10.0m | £9.4m | £8.4m | £8.2m | £6.8m |
| Research and development | £1.5m | £1.5m | £999,418 | £1.2m | £975,317 | £1.2m | £1.2m | £1.1m | £868,515 | £764,480 |
| Operating income | £9.7m | £9.9m | £10.6m | £10.0m | £9.3m | £8.1m | £8.0m | £7.0m | £6.9m | £5.7m |
| Net income | £7.6m | £7.6m | £8.1m | £8.4m | £7.7m | £6.7m | £7.2m | £5.9m | £5.7m | £4.9m |
| Diluted earnings per share | 1.43 | 1.43 | 1.53 | 1.58 | 1.46 | 1.28 | 1.37 | 1.12 | 1.08 | 0.94 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £12.8m | £12.9m | £13.7m | £13.3m | £13.1m | £12.9m | £13.3m | £11.6m | £11.9m | £10.4m |
| Cash and short-term investments | £5.3m | £5.1m | £6.0m | £5.7m | £6.1m | £6.5m | £8.1m | £6.5m | £7.0m | £6.2m |
| Total liabilities | £1.4m | £1.3m | £1.7m | £1.2m | £1.3m | £1.1m | £778,868 | £787,427 | £864,657 | £236,058 |
| Debt | £10,970 | — | — | — | — | — | — | — | — | — |
| Shareholders' equity | £11.4m | £11.6m | £12.0m | £12.1m | £11.8m | £11.8m | £12.5m | £10.8m | £11.0m | £10.1m |
| Shares outstanding | 5m | 5m | 5m | 5m | 5m | 5m | 5m | 5m | 5m | 5m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £8.1m | £7.0m | £8.3m | £7.9m | £7.6m | £6.4m | £7.7m | £5.9m | £5.9m | £4.0m |
| Capital spending | −£71,600 | −£19,189 | −£15,907 | −£10,583 | −£11,756 | −£260,326 | −£339,620 | −£84,518 | −£107,591 | −£21,703 |
| Free cash flow | £8.0m | £7.0m | £8.3m | £7.9m | £7.5m | £6.1m | £7.4m | £5.8m | £5.8m | £3.9m |
| Dividends paid | −£7.8m | −£8.2m | −£8.2m | −£8.4m | −£7.9m | −£7.7m | −£6.5m | −£6.2m | −£4.9m | −£3.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £6.8m | £6.2m | £6.4m | £6.7m | £6.9m | £6.7m | £6.9m | £3.5m |
| Gross profit | £6.2m | £5.6m | £5.9m | £5.9m | £6.4m | £6.2m | £6.5m | £3.3m |
| Operating income | £5.2m | £4.6m | £4.9m | £4.9m | £5.5m | £5.1m | £5.6m | £2.8m |
| Net income | £4.0m | £3.6m | £3.8m | £3.8m | £4.1m | £4.0m | £4.6m | £2.3m |
| Diluted earnings per share | 0.75 | 0.68 | 0.72 | 0.71 | 0.77 | 0.76 | 0.88 | 0.44 |
| Cash from operations | £3.0m | £4.0m | £3.0m | £3.0m | £4.0m | £4.0m | £3.0m | — |
| Total assets | £12.8m | £13.0m | £12.9m | £13.0m | £13.7m | £13.1m | £13.3m | £13.3m |
| Cash and short-term investments | £5.3m | £5.3m | £5.1m | £5.1m | £6.0m | £5.5m | £5.7m | £5.7m |
| Debt | £3,816 | — | — | — | — | — | — | — |
| Shareholders' equity | £11.4m | £11.0m | £11.6m | £11.3m | £12.0m | £11.4m | £12.1m | £12.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.4% | 3.5% | 8.9% |
| Operating income | -1.0% | 3.8% | 9.0% |
| Net income | -3.1% | 2.5% | 8.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 90.9% | 91.9% | 91.9% | 91.9% |
| Operating margin | 75.3% | 76.7% | 76.7% | 76.9% |
| Net margin | 58.3% | 60.3% | 61.3% | 63.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.4 | 13.3 | 20.8 | 27.2 | 27.4 | 26.6 | 32.0 | 29.5 | 28.3 | 26.2 |
| Price to sales | 7.9 | 7.7 | 12.4 | 17.8 | 17.9 | 16.4 | 22.4 | 18.6 | 18.3 | 17.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 6 Nov 2025.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.80 | 1.57 | 1.58 | 1.36 | 0.90 | 0.95 | 0.79 | 0.66 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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