F 
113.20p
+2.91%
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
£177.7m
FY2016FY2025
Net income
£5.7m
FY2016FY2025
Free cash flow
£20.5m
FY2016FY2025
Shareholders' equity
£52.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £177.7m | £257.7m | £334.0m | £330.0m | £267.4m | £267.7m | £271.5m | £244.9m | £233.6m | £189.4m |
| Gross profit | £77.5m | £115.0m | £156.5m | £155.6m | £126.7m | £128.8m | £131.6m | £119.0m | £104.3m | £86.1m |
| Operating income | £13.2m | £27.4m | £55.0m | £45.8m | £42.0m | £41.7m | £53.2m | £48.3m | £43.8m | £35.4m |
| Net income | £5.7m | £20.5m | £40.8m | £34.9m | £31.8m | £30.8m | £40.6m | £37.1m | £32.0m | £26.2m |
| Diluted earnings per share | 0.05 | 0.19 | 0.37 | 0.32 | 0.28 | 0.28 | 0.37 | 0.33 | 0.29 | 0.24 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £89.7m | £111.5m | £124.2m | £130.2m | £126.7m | £138.1m | £123.1m | £99.4m | £94.2m | £82.3m |
| Cash and short-term investments | £35.3m | £40.6m | £47.2m | £45.5m | £53.1m | £64.7m | £37.0m | £33.9m | £36.8m | £27.8m |
| Total liabilities | £37.6m | £44.1m | £47.5m | £47.0m | £48.6m | £50.1m | £48.0m | £29.1m | £29.9m | £29.0m |
| Debt | £19.9m | £21.7m | £20.2m | £12.9m | £15.2m | £19.5m | £23.2m | £18.1m | — | — |
| Shareholders' equity | £52.1m | £67.3m | £76.7m | £83.2m | £78.1m | £88.0m | £75.1m | £70.4m | £64.4m | £53.3m |
| Shares outstanding | 111m | 110m | 109m | 109m | 112m | 109m | 110m | 111m | 110m | 109m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £20.7m | £29.2m | £50.2m | £36.4m | £41.6m | £54.8m | £46.8m | £33.7m | £35.0m | £30.6m |
| Capital spending | −£188,000 | −£335,000 | −£651,000 | −£1.2m | −£368,000 | −£615,000 | −£3.0m | −£2.7m | −£1.4m | −£1.8m |
| Free cash flow | £20.5m | £28.9m | £49.5m | £35.2m | £41.2m | £54.2m | £43.8m | £31.0m | £33.7m | £28.9m |
| Dividends paid | −£20.3m | −£31.7m | −£39.3m | −£38.2m | −£46.8m | −£20.1m | −£34.1m | −£30.7m | −£24.0m | −£24.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £78.6m | £80.4m | £97.3m | £117.5m | £140.2m | £70.1m | £154.1m | £77.0m |
| Gross profit | £35.3m | £33.1m | £44.3m | £52.9m | £62.0m | £31.0m | £72.9m | £36.5m |
| Operating income | £5.1m | £4.3m | £8.1m | £15.0m | £15.3m | £7.6m | £25.7m | £12.9m |
| Net income | £3.1m | −£564,000 | £6.2m | £9.3m | £11.2m | £5.6m | £19.2m | £9.6m |
| Diluted earnings per share | 0.03 | -0.01 | 0.06 | 0.08 | 0.10 | 0.05 | 0.18 | 0.09 |
| Cash from operations | £3.0m | £10.0m | £10.0m | £16.0m | £12.0m | £6.0m | £32.0m | £16.0m |
| Total assets | £91.1m | £89.7m | £102.9m | £111.5m | £116.0m | £116.0m | £124.2m | £124.2m |
| Cash and short-term investments | £31.1m | £35.3m | £34.6m | £40.6m | £36.9m | £36.9m | £47.2m | £47.2m |
| Debt | £5.2m | £5.1m | £5.0m | £4.6m | £4.3m | £4.3m | £4.5m | £4.5m |
| Shareholders' equity | £50.9m | £52.1m | £59.0m | £67.3m | £67.3m | £67.3m | £76.7m | £76.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -18.6% | -7.9% | 1.0% |
| Operating income | -34.0% | -20.6% | -7.7% |
| Net income | -45.4% | -28.7% | -12.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 44.2% | 45.9% | 46.5% | 46.2% |
| Operating margin | 9.3% | 12.9% | 13.8% | 15.9% |
| Net margin | 6.0% | 9.3% | 10.1% | 11.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 26.1 | 10.8 | 7.8 | 14.9 | 28.5 | 25.4 | 17.8 | 14.2 | 20.4 | 15.0 |
| Price to sales | 0.8 | 0.9 | 1.0 | 1.6 | 3.4 | 2.9 | 2.7 | 2.1 | 2.8 | 2.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 11 years. Last went ex-dividend on 4 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.185 | 0.29 | 0.36 | 0.35 | 0.43 | 0.185 | 0.315 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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