B 
945.50p
-0.47%
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
£209.1m
FY2017FY2026
Net income
£124.9m
FY2017FY2026
Free cash flow
£8.0m
FY2017FY2026
Shareholders' equity
£2.60bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £209.1m | £204.5m | £199.6m | £188.8m | £171.3m | £135.2m | £129.3m | £125.8m | £117.3m | £109.7m |
| Gross profit | £145.6m | £142.4m | £143.6m | £134.5m | £120.9m | £91.9m | £88.8m | £93.0m | £86.3m | £79.5m |
| Operating income | £130.5m | £126.6m | £128.4m | £120.0m | £107.0m | £81.5m | £80.0m | £77.1m | £71.6m | £66.3m |
| Net income | £124.9m | £201.9m | £239.8m | £73.3m | £697.3m | £265.2m | £92.6m | £126.5m | £133.5m | £99.5m |
| Diluted earnings per share | 0.64 | 1.03 | 1.22 | 0.40 | 3.78 | 1.48 | 0.53 | 0.76 | 0.84 | 0.63 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £3.15bn | £3.03bn | £2.91bn | £2.75bn | £2.67bn | £1.84bn | £1.62bn | £1.52bn | £1.37bn | £1.26bn |
| Cash and short-term investments | £9.2m | £8.8m | £9.4m | £8.3m | £8.6m | £12.3m | £51.4m | £17.9m | £6.9m | £6.9m |
| Total liabilities | £555.0m | £463.7m | £459.6m | £569.5m | £486.0m | £388.4m | £452.4m | £396.3m | £388.7m | £365.2m |
| Debt | £502.0m | £410.3m | £408.4m | £512.3m | £438.7m | £353.4m | £418.7m | £354.7m | £351.9m | £325.3m |
| Shareholders' equity | £2.60bn | £2.57bn | £2.45bn | £2.18bn | £2.18bn | £1.45bn | £1.16bn | £1.12bn | £981.1m | £890.4m |
| Shares outstanding | 196m | 197m | 196m | 184m | 184m | 179m | 174m | 166m | 158m | 158m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £108.9m | £114.6m | £104.8m | £112.0m | £107.1m | £76.7m | £73.6m | £72.2m | £63.0m | £56.0m |
| Capital spending | −£100.8m | −£58.3m | −£30.9m | −£106.4m | −£105.2m | −£73.0m | −£14.1m | −£83.0m | −£42.0m | −£6.3m |
| Free cash flow | £8.0m | £56.3m | £73.9m | £5.6m | £2.0m | £3.7m | £59.5m | −£10.9m | £21.0m | £49.6m |
| Dividends paid | −£93.2m | −£88.5m | −£85.3m | −£79.1m | −£68.7m | −£58.8m | −£55.7m | −£52.1m | −£46.2m | −£41.2m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £103.9m | £105.1m | £101.5m | £103.0m | £100.1m | £99.6m | £49.8m | £95.0m |
| Gross profit | £71.5m | £74.0m | £75.0m | £74.2m | £76.2m | £71.8m | £36.9m | £67.2m |
| Operating income | £64.7m | £65.8m | £61.0m | £154.0m | £127.5m | £64.9m | £25.1m | £59.7m |
| Net income | £50.6m | £74.3m | £56.2m | £145.7m | £120.2m | £119.6m | £59.8m | £67.3m |
| Diluted earnings per share | 0.26 | 0.38 | 0.29 | 0.74 | 0.61 | 0.65 | 0.32 | 0.37 |
| Cash from operations | £50.0m | £57.0m | £54.0m | £60.0m | £53.0m | £50.0m | — | £28.0m |
| Capital spending | −£40.0m | −£60.0m | −£37.0m | −£20.0m | −£13.0m | −£17.0m | — | −£32.0m |
| Free cash flow | £10.0m | −£3.0m | £17.0m | £40.0m | £40.0m | £33.0m | — | −£4.0m |
| Total assets | £3.15bn | £3.11bn | £3.03bn | £2.99bn | £2.91bn | £2.83bn | £2.83bn | £2.75bn |
| Cash and short-term investments | £9.2m | £7.2m | £8.8m | £5.6m | £9.4m | £7.1m | £7.1m | £8.3m |
| Debt | £483.9m | £445.0m | £395.1m | £362.9m | £391.9m | £502.6m | £515.2m | £494.6m |
| Shareholders' equity | £2.60bn | £2.59bn | £2.57bn | £2.55bn | £2.45bn | £2.26bn | £2.26bn | £2.18bn |
Financial ratios
Data as of 30 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 69.6% | 69.6% | 71.9% | 71.2% | 70.6% | 68.0% |
| Operating margin | 66.8% | 107.5% | 132.2% | 63.6% | 412.0% | 200.2% |
| Net margin | 59.7% | 98.7% | 120.1% | 38.8% | 407.0% | 196.1% |
| Return on equity | 4.8% | 7.9% | 9.8% | 3.4% | 31.9% | 18.2% |
| Return on assets | 4.0% | 6.7% | 8.2% | 2.7% | 26.1% | 14.4% |
| Free cash flow yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| Revenue growth | 2.2% | 2.4% | 5.7% | 10.2% | 26.7% | 4.6% |
| Earnings growth | -38.1% | -15.8% | 227.1% | -89.5% | 162.9% | 186.5% |
| Current ratio | 0.31x | 0.26x | 0.36x | 0.28x | 0.32x | 0.52x |
| Debt to equity | 0.19x | 0.15x | 0.16x | 0.23x | 0.19x | 0.23x |
| Equity ratio | 82.4% | 84.7% | 84.2% | 79.3% | 81.8% | 78.9% |
| Interest coverage | 10.31x | 13.80x | 11.50x | 7.10x | 66.56x | 33.76x |
| Buybacks as a share of market value | 0.3% | -0.3% | -6.3% | 0.0% | -2.7% | -3.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.5% | 9.1% | 7.5% |
| Operating income | 2.8% | 9.9% | 8.0% |
| Net income | 19.4% | -14.0% | 1.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 69.6% | 70.6% | 70.3% | 70.9% |
| Operating margin | 62.2% | 63.0% | 62.6% | 62.0% |
| Net margin | 79.0% | 79.8% | 144.5% | 128.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.6 | 10.2 | 7.8 | 30.7 | 3.0 | 11.6 | 20.6 | 15.8 | 10.3 | 13.8 |
| Price to sales | 8.7 | 10.1 | 9.4 | 11.9 | 12.3 | 22.6 | 14.8 | 15.9 | 11.8 | 12.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 16 years. Last went ex-dividend on 2 Jul 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.234 | 0.476 | 0.452 | 0.455 | 0.437 | 0.356 | 0.202 | 0.211 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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