C 
5,400.00p
+1.89%
Close of 6 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
£268.0m
FY2016FY2025
Net income
−£4.9m
FY2016FY2025
Free cash flow
−£4.5m
FY2016FY2025
Shareholders' equity
£291.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £268.0m | £262.2m | £254.2m | £297.2m | £255.3m | £291.2m | £291.5m | £309.8m | £298.3m | £257.9m |
| Gross profit | £55.8m | £49.0m | £48.9m | £70.5m | £57.5m | £63.5m | £73.6m | £100.6m | £79.0m | £69.4m |
| Operating income | −£2.3m | £3.5m | £17.6m | −£5.6m | £7.6m | £10.1m | £25.4m | £42.3m | £26.1m | £19.1m |
| Net income | −£4.9m | −£4.9m | −£3.7m | −£13.6m | £2.3m | −£5.0m | £15.1m | £25.2m | £13.8m | −£10.7m |
| Diluted earnings per share | -1.72 | -1.56 | -1.34 | -4.92 | 0.83 | -1.81 | 5.47 | 9.12 | 5.00 | -3.87 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £440.0m | £476.3m | £499.7m | £571.8m | £593.5m | £582.3m | £605.8m | £610.4m | £576.5m | £813.9m |
| Cash and short-term investments | £107.2m | £139.1m | £48.9m | £50.6m | £65.8m | £98.5m | £91.4m | £112.6m | £108.0m | £72.9m |
| Total liabilities | £110.5m | £128.6m | £136.4m | £154.1m | £156.2m | £156.3m | £153.4m | £158.1m | £158.6m | £434.3m |
| Debt | £22.4m | £26.9m | £33.2m | £30.9m | £32.5m | £19.9m | £21.9m | £6.8m | £5.8m | £6.2m |
| Shareholders' equity | £291.6m | £308.5m | £325.8m | £365.0m | £388.6m | £376.6m | £395.7m | £395.5m | £368.4m | £330.8m |
| Shares outstanding | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £7.4m | −£2.6m | −£14.9m | −£5.9m | −£12.0m | £12.9m | £12.6m | £24.5m | £30.9m | £23.8m |
| Capital spending | −£11.9m | −£9.5m | −£11.6m | −£14.4m | −£10.7m | −£13.8m | −£18.5m | −£20.5m | −£23.1m | −£14.4m |
| Free cash flow | −£4.5m | −£12.1m | −£26.5m | −£20.3m | −£22.7m | −£900,000 | −£5.9m | £4.0m | £7.8m | £9.4m |
| Dividends paid | −£6.6m | — | −£4.0m | −£4.0m | −£5.2m | −£2.8m | −£4.0m | −£3.8m | −£3.6m | −£3.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £104.6m | £160.3m | £107.7m | £157.1m | £105.1m | £161.8m | £110.5m | £171.4m |
| Gross profit | £18.4m | £39.9m | £15.9m | £32.5m | £16.5m | £43.0m | £7.2m | £57.9m |
| Operating income | −£6.7m | £9.4m | −£11.2m | £13.1m | −£10.9m | £1.0m | −£20.5m | £16.8m |
| Net income | £11.8m | £6.9m | −£11.8m | £8.7m | −£13.6m | −£6.7m | £3.0m | £3.2m |
| Diluted earnings per share | 4.67 | 2.42 | -4.14 | 2.76 | -4.32 | -2.43 | 1.09 | 1.16 |
| Cash from operations | −£9.0m | £25.0m | −£18.0m | £15.0m | −£15.0m | £4.0m | −£15.0m | £4.0m |
| Capital spending | −£6.0m | −£6.0m | −£5.0m | −£5.0m | −£4.0m | −£4.0m | −£7.0m | −£7.0m |
| Free cash flow | −£15.0m | £19.0m | −£23.0m | £10.0m | −£19.0m | £0 | −£22.0m | −£3.0m |
| Total assets | £468.5m | £440.0m | £441.2m | £476.3m | £493.7m | £499.7m | £539.1m | £571.8m |
| Cash and short-term investments | £124.1m | £107.2m | £100.9m | £139.1m | £43.9m | £48.9m | £47.0m | £50.6m |
| Debt | £17.8m | £15.4m | £25.8m | £19.3m | £29.5m | £24.1m | £22.2m | £11.8m |
| Shareholders' equity | £299.1m | £291.6m | £276.5m | £308.5m | £318.5m | £325.8m | £347.5m | £368.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.4% | -1.6% | 0.4% |
| Operating income | -25.7% | — | — |
| Net income | -28.8% | -0.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.8% | 20.7% | 21.2% | 24.5% |
| Operating margin | 0.2% | 1.2% | 1.9% | 5.0% |
| Net margin | -1.8% | -2.5% | -1.8% | 0.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -28.8 | -30.6 | -34.6 | -9.7 | 81.7 | -39.8 | 16.0 | 11.6 | 23.5 | -27.9 |
| Price to sales | 0.5 | 0.6 | 0.5 | 0.4 | 0.7 | 0.7 | 0.8 | 0.9 | 1.1 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 3 Jul 2025.
| FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.60 | 1.46 | 1.46 | 1.88 | 1.02 | 1.44 | 1.38 | 1.32 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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