E 
114.80p
+1.41%
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
£302.0m
FY2016FY2025
Net income
£2.1m
FY2016FY2025
Free cash flow
£5.8m
FY2016FY2025
Shareholders' equity
£266.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £302.0m | £302.4m | £316.3m | £337.9m | £301.7m | £896.5m | £974.1m | £1.03bn | £1.03bn | £998.5m |
| Research and development | — | — | — | £200,000 | £2.1m | £3.2m | £3.6m | £4.6m | £5.2m | £5.0m |
| Operating income | £21.0m | £14.6m | £10.9m | £14.8m | £7.7m | £11.6m | £80.0m | £69.0m | £5.5m | −£49.1m |
| Net income | £2.1m | £10.6m | £5.4m | −£35.3m | £26.9m | −£3.3m | £38.4m | £24.3m | £114.3m | −£40.3m |
| Diluted earnings per share | 0.01 | 0.04 | 0.02 | -0.12 | 0.09 | -0.01 | 0.14 | 0.09 | 0.43 | -0.15 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £474.7m | £494.0m | £536.0m | £893.4m | £1.28bn | £1.27bn | £1.21bn | £1.27bn | £1.24bn | £1.41bn |
| Cash and short-term investments | £36.2m | £33.7m | £59.7m | £421.4m | £136.3m | £135.8m | £76.6m | £66.2m | £52.0m | £54.0m |
| Total liabilities | £208.7m | £223.2m | £262.8m | £489.3m | £653.1m | £634.1m | £665.4m | £668.4m | £619.3m | £809.5m |
| Debt | £126.8m | £136.6m | £126.4m | £315.9m | £371.0m | £346.2m | £360.4m | £311.3m | £267.6m | £440.0m |
| Shareholders' equity | £266.0m | £270.8m | £273.2m | £404.1m | £612.7m | £604.7m | £533.1m | £592.6m | £612.3m | £595.4m |
| Shares outstanding | 290m | 287m | 288m | 301m | 303m | 301m | 269m | 265m | 263m | 261m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £16.4m | £25.7m | £29.5m | £64.0m | £63.2m | £103.3m | £76.4m | £99.1m | £77.4m | £153.0m |
| Capital spending | −£10.6m | −£12.8m | −£13.2m | −£40.7m | −£41.7m | −£45.1m | −£58.9m | −£61.2m | −£47.4m | −£46.7m |
| Free cash flow | £5.8m | £12.9m | £16.3m | £23.3m | £21.5m | £58.2m | £17.5m | £37.9m | £30.0m | £106.3m |
| Dividends paid | −£6.7m | −£10.5m | −£96.3m | −£19.0m | −£16.0m | −£16.0m | −£54.2m | −£54.2m | −£54.1m | −£54.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £166.1m | £149.6m | £152.4m | £142.7m | £159.7m | £150.0m | £166.3m | £162.0m |
| Operating income | £13.3m | £11.0m | £5.3m | £12.7m | £8.1m | £14.6m | £10.3m | −£300,000 |
| Net income | £3.6m | £1.8m | £300,000 | £9.0m | £1.3m | £2.2m | £6.9m | −£25.1m |
| Diluted earnings per share | 0.01 | 0.01 | 0.00 | 0.03 | 0.00 | 0.01 | 0.02 | -0.08 |
| Cash from operations | £7.0m | £10.0m | £6.0m | £8.0m | £9.0m | £20.0m | £2.0m | £53.0m |
| Capital spending | −£3.0m | −£6.0m | −£3.0m | −£8.0m | −£3.0m | −£8.0m | −£4.0m | −£17.0m |
| Free cash flow | £4.0m | £4.0m | £3.0m | £0 | £6.0m | £12.0m | −£2.0m | £36.0m |
| Total assets | £499.7m | £474.7m | £490.7m | £494.0m | £532.6m | £536.0m | £542.3m | £893.4m |
| Cash and short-term investments | £42.5m | £36.2m | £41.3m | £33.7m | £49.3m | £59.7m | £96.3m | £421.4m |
| Debt | £7.7m | £106.0m | £118.0m | £115.4m | £120.8m | £102.6m | £94.8m | £297.9m |
| Shareholders' equity | £268.4m | £266.0m | £265.2m | £270.8m | £275.6m | £273.2m | £283.6m | £404.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.7% | -19.6% | -12.1% |
| Operating income | 12.4% | 12.6% | -14.5% |
| Net income | — | — | -29.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 5.9% | 4.9% | 3.3% | 3.8% |
| Net margin | 2.1% | -1.4% | 0.3% | 2.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 133.6 | 36.0 | 90.5 | -20.2 | 38.8 | -279.1 | 30.5 | 37.4 | 12.2 | -29.9 |
| Price to sales | 0.9 | 1.3 | 1.6 | 2.1 | 3.5 | 1.0 | 1.2 | 0.9 | 1.4 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 17 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.021 | 0.024 | 0.037 | 0.32 | 0.063 | 0.053 | 0.207 | 0.207 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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