C 
182.50p
0.00%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£111.0m
FY2017FY2026
Net income
−£4.8m
FY2017FY2026
Free cash flow
−£9.3m
FY2017FY2026
Shareholders' equity
£150.9m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £111.0m | £143.6m | £124.6m | £119.9m | £88.2m | £60.8m | £70.2m | £83.4m | £101.6m | £90.6m |
| Operating income | −£26.5m | £42.2m | £14.5m | £40.1m | £6.2m | −£11.3m | −£329,000 | £11.5m | £18.0m | £7.5m |
| Net income | −£4.8m | £33.9m | £13.4m | £33.3m | £5.8m | −£12.6m | −£368,000 | £8.7m | £15.4m | £6.9m |
| Diluted earnings per share | -0.05 | 0.26 | 0.10 | 0.35 | 0.06 | -0.13 | -0.00 | 0.06 | 0.11 | 0.05 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £251.8m | £262.7m | £218.1m | £220.3m | £178.0m | £134.6m | £144.3m | £143.1m | £149.9m | £109.5m |
| Cash and short-term investments | £66.4m | £77.3m | £77.2m | £72.3m | £31.9m | £19.5m | £22.4m | £34.1m | £42.6m | £24.5m |
| Total liabilities | £100.9m | £107.0m | £96.4m | £112.1m | £103.2m | £65.7m | £62.8m | £61.3m | £76.9m | £52.0m |
| Debt | £5.3m | £4.9m | £1.1m | £5.0m | £2.5m | £4.1m | £5.4m | £5.5m | £6.5m | £6.8m |
| Shareholders' equity | £150.9m | £155.6m | £121.6m | £108.2m | £74.8m | £68.9m | £81.5m | £81.8m | £72.9m | £57.4m |
| Shares outstanding | 95m | 133m | 136m | 95m | 95m | 94m | 94m | 135m | 135m | 135m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£3.8m | £19.9m | £18.0m | £43.5m | £10.4m | −£11.9m | −£4.0m | −£5.1m | £23.0m | £16.0m |
| Capital spending | −£5.5m | −£11.7m | −£38.7m | −£26.1m | −£21.6m | −£14.1m | −£24.7m | −£15.9m | −£14.1m | −£12.6m |
| Free cash flow | −£9.3m | £8.3m | −£20.7m | £17.4m | −£11.2m | −£26.0m | −£28.7m | −£21.1m | £8.9m | £3.4m |
| Dividends paid | −£495,000 | −£507,000 | −£494,000 | −£473,000 | −£489,000 | −£472,000 | −£477,000 | −£478,000 | −£486,000 | −£498,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £51.6m | £59.4m | £60.1m | £83.5m | £19.7m | £85.2m | £43.3m | £76.5m |
| Operating income | −£23.5m | −£3.0m | £127,000 | £20.5m | −£9.1m | £25.9m | −£9.8m | £22.1m |
| Net income | −£14.6m | £9.9m | £1.0m | £32.9m | −£4.6m | £22.7m | £5.2m | £28.1m |
| Diluted earnings per share | -0.15 | 0.07 | 0.01 | 0.24 | -0.03 | 0.24 | 0.06 | 0.30 |
| Cash from operations | £2.0m | −£6.0m | £9.0m | £10.0m | £9.0m | £8.0m | £14.0m | £28.0m |
| Capital spending | −£2.0m | −£3.0m | −£3.0m | −£8.0m | −£2.0m | −£24.0m | −£10.0m | −£15.0m |
| Free cash flow | £0 | −£9.0m | £6.0m | £2.0m | £7.0m | −£16.0m | £4.0m | £13.0m |
| Total assets | £251.8m | £255.5m | £262.7m | £242.1m | £218.1m | £211.7m | £220.3m | £187.5m |
| Cash and short-term investments | £66.4m | £67.4m | £77.3m | £65.4m | £77.2m | £67.3m | £72.3m | £60.1m |
| Debt | £459,000 | £522,000 | £584,000 | £1.1m | £614,000 | £543,000 | £426,000 | £1.4m |
| Shareholders' equity | £150.9m | £165.6m | £155.6m | £154.6m | £121.6m | £130.9m | £108.2m | £102.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.5% | 12.8% | 7.9% |
| Operating income | — | 18.6% | — |
| Net income | — | -17.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 6.2% | 14.1% | 10.1% | 9.8% |
| Net margin | 11.4% | 15.2% | 10.7% | 9.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -36.3 | 7.8 | 17.0 | 3.4 | 18.0 | -7.7 | -258.9 | 25.0 | 14.5 | 25.5 |
| Price to sales | 1.6 | 1.8 | 1.8 | 0.9 | 1.2 | 1.6 | 1.4 | 2.6 | 2.2 | 1.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 100-for-1 split · 21 Sept 1998
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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