C 
37.50p
+2.74%
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
£9.9m
FY2016FY2025
Net income
−£737,000
FY2016FY2025
Free cash flow
£2.2m
FY2016FY2025
Shareholders' equity
£2.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £9.9m | £31.6m | £29.7m | £26.4m | £20.3m | £11.9m | £21.8m | £18.5m | £16.9m | £24.3m |
| Research and development | — | — | — | £29.0m | — | — | — | — | — | — |
| Operating income | −£248,000 | £2.4m | £2.5m | £2.1m | £1.6m | £253,000 | −£1.8m | £994,000 | £315,000 | £536,000 |
| Net income | −£737,000 | £580,000 | £556,000 | £460,000 | £296,000 | −£980,000 | −£2.6m | −£431,000 | −£532,000 | −£1.1m |
| Diluted earnings per share | -0.04 | 0.03 | 0.03 | 0.02 | 0.01 | -0.05 | -0.13 | -0.02 | -0.03 | -0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £22.5m | £21.8m | £22.7m | £21.5m | £19.5m | £16.5m | £16.1m | £12.6m | £15.0m | £14.9m |
| Cash and short-term investments | £1.1m | £677,000 | £916,000 | £1.3m | £2.1m | £2.3m | £2.0m | £1.7m | £1.4m | £840,000 |
| Total liabilities | £18.5m | £16.8m | £17.2m | £17.0m | £16.0m | £15.4m | £13.4m | £7.1m | £10.0m | £10.7m |
| Debt | £8.2m | £10.7m | £11.2m | £11.7m | £11.5m | £11.4m | £8.5m | £3.9m | £5.7m | £6.4m |
| Shareholders' equity | £2.1m | £2.8m | £2.2m | £1.6m | £1.1m | −£861,000 | £733,000 | £3.5m | £3.6m | £3.0m |
| Shares outstanding | 21m | 21m | 21m | 21m | 21m | 21m | 21m | 21m | 21m | 21m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £2.3m | £3.5m | £2.8m | £1.7m | £1.2m | £1.3m | £24,000 | £1.1m | £1.3m | £461,000 |
| Capital spending | −£169,000 | −£174,000 | −£690,000 | −£195,000 | −£382,000 | −£119,000 | −£241,000 | −£1.0m | −£277,000 | −£932,000 |
| Free cash flow | £2.2m | £3.4m | £2.1m | £1.5m | £804,000 | £1.1m | −£217,000 | £73,000 | £1.0m | −£471,000 |
| Dividends paid | — | — | −£422.8m | −£365.4m | −£314.7m | −£122.0m | −£750.5m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £5.1m | −£6.9m | £16.8m | £15.7m | £15.9m | £14.6m | £3.81bn | £15.1m |
| Operating income | £21,000 | −£1.6m | £1.4m | £836,000 | £1.6m | £1.1m | £107.3m | £1.4m |
| Net income | £11.0m | −£1.1m | £326,000 | £99,000 | £481,000 | £151,000 | −£800,000 | £405,000 |
| Diluted earnings per share | 0.52 | -0.05 | 0.02 | 0.00 | 0.02 | 0.01 | -0.04 | 0.02 |
| Cash from operations | — | £1.0m | £1.0m | £1.0m | £1.0m | — | — | £1.0m |
| Total assets | £18.0m | £22.5m | £24.9m | £21.8m | £23.7m | £22.7m | £22.7m | £23.2m |
| Cash and short-term investments | £9.7m | £1.1m | £1.6m | £677,000 | £1.7m | £916,000 | £916,000 | £1.5m |
| Debt | £571,000 | £7.3m | £11.3m | £9.2m | £9.1m | £9.5m | £2.2m | £9.8m |
| Shareholders' equity | £13.1m | £2.1m | £2.9m | £2.8m | £2.7m | £2.2m | £2.2m | £2.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -28.0% | -3.6% | -5.9% |
| Net income | — | -5.5% | 10.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 5.2% | 7.0% | 6.7% | 4.0% |
| Net margin | -0.4% | 0.9% | 0.1% | -2.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -10.1 | 8.5 | 10.6 | 18.0 | 36.5 | -5.5 | -2.5 | -11.0 | -19.7 | -7.2 |
| Price to sales | 0.8 | 0.2 | 0.2 | 0.3 | 0.5 | 0.5 | 0.3 | 0.3 | 0.6 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 19 Apr 1999.
| FY1999 | FY1998 | FY1997 | FY1996 | FY1995 | FY1994 | FY1993 | FY1992 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.003 | 0.01 | 0.01 | 0.01 | 0.009 | 0.009 | 0.007 | 0.006 |
- 50-to-1 reverse split · 13 Feb 2007
- 1-to-1 reverse split · 20 Apr 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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