C 
264.50p
+1.73%
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
£2.20bn
FY2016FY2025
Net income
−£164.1m
FY2016FY2025
Free cash flow
−£4.8m
FY2016FY2025
Shareholders' equity
£47.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £2.20bn | £2.42bn | £2.81bn | £3.01bn | £3.18bn | £3.32bn | £3.68bn | £3.92bn | £4.23bn | £4.37bn |
| Gross profit | £438.7m | £516.5m | £592.1m | £581.4m | £508.6m | £538.9m | £824.6m | £967.0m | £1.14bn | £943.4m |
| Research and development | — | — | — | — | — | — | — | — | £20.6m | £53.5m |
| Operating income | £137.7m | £162.5m | −£52.0m | £99.6m | £334.2m | £157.4m | £191.3m | £108.2m | £412.8m | £180.2m |
| Net income | −£164.1m | £76.7m | −£178.1m | £74.8m | £224.7m | £14.0m | −£64.2m | £269.0m | −£533.5m | −£94.8m |
| Diluted earnings per share | -1.37 | 0.66 | -1.58 | 0.66 | 2.02 | 0.13 | -0.58 | 2.38 | -12.01 | -2.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.74bn | £1.84bn | £2.00bn | £2.55bn | £3.14bn | £3.73bn | £3.98bn | £4.09bn | £4.42bn | £6.21bn |
| Cash and short-term investments | £264.1m | £254.0m | £155.4m | £396.8m | £317.6m | £460.9m | £409.1m | £967.3m | £994.3m | £1.17bn |
| Total liabilities | £1.70bn | £1.64bn | £1.88bn | £2.20bn | £2.85bn | £3.81bn | £4.04bn | £3.99bn | £5.35bn | £6.76bn |
| Debt | £723.7m | £680.3m | £721.0m | £903.3m | £1.24bn | £1.60bn | £1.84bn | £1.52bn | £2.21bn | £3.15bn |
| Shareholders' equity | £47.4m | £199.9m | £113.0m | £330.2m | £274.5m | −£134.5m | −£126.8m | £36.2m | −£999.0m | −£621.3m |
| Shares outstanding | 120m | 117m | 113m | 114m | 111m | 110m | 110m | 113m | 44m | 44m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £4.7m | −£25.2m | −£40.3m | £71.9m | −£206.3m | £396.3m | −£26.3m | −£202.1m | £187.4m | £563.2m |
| Capital spending | −£9.5m | −£50.1m | −£61.6m | −£47.9m | −£58.1m | −£87.4m | −£182.4m | −£89.4m | −£66.2m | −£74.0m |
| Free cash flow | −£4.8m | −£75.3m | −£101.9m | £24.0m | −£264.4m | £308.9m | −£208.7m | −£291.5m | £121.2m | £489.2m |
| Dividends paid | — | — | — | — | — | — | — | — | −£170.0m | −£219.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £906.4m | £1.04bn | £1.16bn | £1.18bn | £1.24bn | £1.24bn | £1.40bn | £1.50bn |
| Gross profit | £133.1m | £99.1m | £225.1m | £193.4m | £291.2m | £108.0m | £206.2m | £320.6m |
| Operating income | £28.1m | −£130.5m | £33.9m | £27.9m | £27.3m | −£80.1m | £11.9m | −£21.5m |
| Net income | −£44.5m | −£156.6m | −£7.5m | £23.7m | £53.0m | −£93.7m | −£84.4m | £56.5m |
| Diluted earnings per share | -0.37 | -1.30 | -0.06 | 0.20 | 0.45 | -0.83 | -0.75 | 0.50 |
| Cash from operations | −£13.0m | −£2.0m | £7.0m | −£29.0m | £4.0m | −£12.0m | −£27.0m | £41.0m |
| Capital spending | −£4.0m | −£6.0m | −£3.0m | −£9.0m | −£7.0m | −£32.0m | −£29.0m | −£29.0m |
| Free cash flow | −£17.0m | −£8.0m | £4.0m | −£38.0m | −£3.0m | −£44.0m | −£56.0m | £12.0m |
| Total assets | £1.76bn | £1.74bn | £1.94bn | £1.84bn | £2.01bn | £2.00bn | £2.31bn | £2.55bn |
| Cash and short-term investments | £266.4m | £264.1m | £334.1m | £254.0m | £151.2m | £155.4m | £164.2m | £396.8m |
| Debt | £497.6m | £445.0m | £457.1m | £374.5m | £386.1m | £408.6m | £413.5m | £561.4m |
| Shareholders' equity | £12.0m | £47.4m | £182.3m | £199.9m | £177.7m | £113.0m | £224.7m | £330.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.0% | -8.0% | -7.6% |
| Operating income | 11.4% | -2.6% | -11.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.7% | 20.4% | 18.7% | 22.1% |
| Operating margin | 6.5% | 3.3% | 5.0% | 5.8% |
| Net margin | -1.9% | -1.8% | 0.3% | -0.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.0 | 3.2 | -2.1 | 5.6 | 2.7 | 46.7 | -26.6 | 4.5 | -1.3 | -9.5 |
| Price to sales | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.5 | 0.3 | 0.2 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 19 Oct 2017.
| FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 289.955 | 295.443 | 275.32 | 250.624 | 222.269 | 202.146 | 188.425 | 162.814 |
- 15-to-1 reverse split · 29 Apr 2025
- 1.003-for-1 split · 17 Sept 2007
- 1-to-1 reverse split · 17 Nov 2004
- 1-to-1 reverse split · 26 Jun 2002
- 1-to-1 reverse split · 13 May 2002
- 3-for-1 split · 21 Aug 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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