C 
4,626.00p
+0.70%
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
£9.19bn
FY2016FY2025
Net income
£153.7m
FY2016FY2025
Free cash flow
£273.8m
FY2016FY2025
Shareholders' equity
£897.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £9.19bn | £6.96bn | £6.92bn | £6.47bn | £5.03bn | £5.44bn | £5.05bn | £4.35bn | £3.79bn | £3.25bn |
| Gross profit | £1.13bn | £1.03bn | £1.04bn | £936.2m | £860.2m | £713.1m | £658.7m | £548.6m | £496.2m | £428.0m |
| Operating income | £264.6m | £237.9m | £268.8m | £258.0m | £261.0m | £215.7m | £163.6m | £114.6m | £105.4m | £85.7m |
| Net income | £153.7m | £170.8m | £197.6m | £182.8m | £185.3m | £153.8m | £101.7m | £80.9m | £81.3m | £63.8m |
| Diluted earnings per share | 1.45 | 1.56 | 1.74 | 1.59 | 1.62 | 1.34 | 0.89 | 0.70 | 0.70 | 0.52 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £4.06bn | £3.37bn | £3.06bn | £3.28bn | £2.71bn | £2.40bn | £1.91bn | £1.96bn | £1.45bn | £1.24bn |
| Cash and short-term investments | £628.5m | £489.6m | £471.2m | £275.1m | £285.2m | £309.8m | £217.9m | £200.4m | £206.6m | £148.7m |
| Total liabilities | £3.17bn | £2.55bn | £2.11bn | £2.41bn | £1.97bn | £1.77bn | £1.42bn | £1.51bn | £960.6m | £812.7m |
| Debt | £202.3m | £136.9m | £127.6m | £157.9m | £189.9m | £258.7m | £197.5m | £143.2m | £15.4m | £4.2m |
| Shareholders' equity | £897.9m | £810.2m | £941.7m | £865.7m | £740.5m | £627.8m | £492.6m | £447.8m | £488.8m | £428.0m |
| Shares outstanding | 106m | 109m | 114m | 115m | 115m | 115m | 114m | 115m | 115m | 122m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £295.6m | £417.1m | £410.6m | £242.1m | £224.3m | £236.8m | £202.0m | £115.2m | £106.1m | £68.2m |
| Capital spending | −£21.8m | −£19.0m | −£35.1m | −£35.5m | −£30.3m | −£27.5m | −£38.9m | −£45.4m | −£30.4m | −£17.6m |
| Free cash flow | £273.8m | £398.1m | £375.5m | £206.6m | £194.0m | £209.3m | £163.1m | £69.8m | £75.7m | £50.6m |
| Dividends paid | −£74.6m | −£78.9m | −£77.3m | −£80.5m | −£62.4m | −£13.9m | −£35.8m | −£30.9m | −£27.1m | −£26.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £6.85bn | £5.21bn | £1.99bn | £3.86bn | £3.10bn | £3.34bn | £3.58bn | £3.64bn |
| Gross profit | £649.1m | £634.9m | £252.1m | £562.8m | £472.2m | £538.3m | £500.2m | £515.4m |
| Operating income | £144.3m | £187.6m | £36.9m | £159.5m | £78.4m | £147.7m | £113.0m | £146.3m |
| Net income | £99.8m | £104.5m | £24.6m | £110.5m | £60.3m | £109.9m | £87.7m | £105.6m |
| Diluted earnings per share | 0.95 | 0.98 | 0.23 | 1.01 | 0.55 | 0.97 | 0.77 | 0.92 |
| Cash from operations | −£80.0m | £458.0m | −£82.0m | £418.0m | £1.0m | £294.0m | £122.0m | £233.0m |
| Capital spending | −£22.0m | −£12.0m | −£4.0m | −£10.0m | −£8.0m | −£10.0m | −£17.0m | −£20.0m |
| Free cash flow | −£102.0m | £446.0m | −£86.0m | £408.0m | −£7.0m | £284.0m | £105.0m | £213.0m |
| Total assets | £5.32bn | £4.06bn | £3.05bn | £3.37bn | £2.98bn | £3.06bn | £2.81bn | £3.28bn |
| Cash and short-term investments | £333.4m | £628.5m | £302.0m | £489.6m | £411.4m | £471.2m | £301.6m | £275.1m |
| Debt | £57.8m | £66.4m | £64.4m | £43.7m | £40.2m | £49.5m | £53.2m | £57.0m |
| Shareholders' equity | £978.1m | £897.9m | £842.2m | £810.2m | £990.9m | £941.7m | £911.6m | £865.7m |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 12.3% | 14.9% | 15.1% | 14.5% | 17.1% | 13.1% |
| Operating margin | 2.7% | 3.4% | 4.1% | 4.0% | 5.1% | 3.9% |
| Net margin | 1.7% | 2.5% | 2.9% | 2.8% | 3.7% | 2.8% |
| Return on equity | 17.1% | 21.1% | 21.0% | 21.1% | 25.0% | 24.5% |
| Return on assets | 3.8% | 5.1% | 6.5% | 5.6% | 6.8% | 6.4% |
| Free cash flow yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.1% |
| Revenue growth | 32.0% | 0.6% | 7.0% | 28.5% | -7.5% | 7.7% |
| Earnings growth | -10.0% | -13.6% | 8.1% | -1.3% | 20.5% | 51.3% |
| Current ratio | 1.17x | 1.16x | 1.26x | 1.20x | 1.21x | 1.17x |
| Debt to equity | 0.07x | 0.05x | 0.05x | 0.07x | 0.12x | 0.26x |
| Equity ratio | 22.1% | 24.1% | 30.8% | 26.4% | 27.3% | 26.1% |
| Interest coverage | 16.73x | 32.79x | 38.67x | 33.18x | 34.07x | 33.17x |
| Buybacks as a share of market value | 2.7% | 3.8% | 1.4% | -0.4% | 0.4% | -0.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.4% | 11.1% | 11.6% |
| Operating income | 0.8% | 4.2% | 11.9% |
| Net income | -5.6% | -0.0% | 4.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.4% | 14.0% | 14.3% | 13.9% |
| Operating margin | 3.1% | 3.5% | 3.8% | 3.5% |
| Net margin | 2.0% | 2.4% | 2.6% | 2.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 20.3 | 13.6 | 16.0 | 12.0 | 18.0 | 18.3 | 19.9 | 14.3 | 16.4 | 15.3 |
| Price to sales | 0.3 | 0.3 | 0.5 | 0.3 | 0.7 | 0.5 | 0.4 | 0.3 | 0.3 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 27 years. Last went ex-dividend on 4 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.51 | 0.71 | 0.707 | 0.684 | 0.715 | 0.553 | 0.123 | 0.317 |
- 17-to-15 reverse split · 20 Feb 2015
- 10-to-9 reverse split · 12 Jun 2013
- 1.003-to-1 reverse split · 3 Jul 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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