J 
434.00p
-2.47%
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
£394.4m
FY2016FY2025
Net income
−£4.4m
FY2016FY2025
Free cash flow
£35.8m
FY2016FY2025
Shareholders' equity
£186.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £394.4m | £437.7m | £496.2m | £478.1m | £442.4m | £518.2m | £617.1m | £561.5m | £505.4m | £466.0m |
| Gross profit | £128.4m | £133.0m | £135.9m | £127.2m | £103.6m | £94.4m | £184.7m | £166.6m | £154.5m | £141.7m |
| Research and development | — | — | £1.3m | £2.5m | £5.6m | £100,000 | £200,000 | £500,000 | £700,000 | £359,000 |
| Operating income | £18.0m | £73.1m | −£18.6m | £24.7m | −£22.4m | −£45.1m | £55.6m | £61.4m | £54.5m | £50.0m |
| Net income | −£4.4m | £46.3m | −£62.4m | −£11.1m | −£27.8m | −£57.3m | £36.7m | £44.9m | £40.2m | £39.8m |
| Diluted earnings per share | -0.09 | 0.90 | -1.24 | -0.22 | -0.55 | -1.14 | 0.73 | 0.89 | 0.80 | 0.79 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £514.0m | £511.3m | £558.2m | £609.0m | £624.9m | £622.9m | £747.4m | £605.9m | £618.6m | £555.5m |
| Cash and short-term investments | £59.5m | £86.2m | £77.5m | £53.6m | £68.0m | £93.1m | £18.5m | £18.6m | £20.3m | £21.8m |
| Total liabilities | £326.7m | £321.0m | £409.6m | £390.7m | £414.3m | £387.0m | £433.4m | £299.5m | £332.4m | £297.2m |
| Debt | £202.9m | £194.1m | £279.0m | £242.1m | £253.5m | £291.1m | £248.8m | £132.0m | £152.7m | £127.5m |
| Shareholders' equity | £186.8m | £189.9m | £148.0m | £217.8m | £209.9m | £237.2m | £313.2m | £305.0m | £285.0m | £257.3m |
| Shares outstanding | 51m | 52m | 50m | 50m | 50m | 50m | 51m | 51m | 51m | 51m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £60.8m | £49.3m | £37.8m | £44.5m | £48.9m | £86.6m | £58.1m | £87.4m | £20.9m | £43.8m |
| Capital spending | −£25.0m | −£31.7m | −£31.2m | −£33.0m | −£23.6m | −£20.4m | −£92.4m | −£38.5m | −£27.3m | −£16.5m |
| Free cash flow | £35.8m | £17.6m | £6.6m | £11.5m | £25.3m | £66.2m | −£34.3m | £48.9m | −£6.4m | £27.2m |
| Dividends paid | — | — | — | — | — | −£4.0m | −£16.4m | −£14.9m | −£13.5m | −£12.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £195.9m | £202.5m | £191.9m | £216.2m | £221.5m | £244.2m | £252.0m | £239.7m |
| Gross profit | £64.8m | £67.7m | £60.7m | £67.0m | £66.0m | £70.4m | £65.5m | £71.5m |
| Operating income | £14.8m | £11.2m | £4.8m | £11.5m | £12.7m | −£21.8m | £2.7m | £16.6m |
| Net income | −£900,000 | −£2.0m | −£2.4m | £47.1m | −£800,000 | −£52.8m | −£9.6m | −£13.0m |
| Diluted earnings per share | -0.02 | -0.04 | -0.05 | 0.91 | -0.02 | -1.05 | -0.19 | -0.26 |
| Cash from operations | £19.0m | £33.0m | £27.0m | £9.0m | £20.0m | £27.0m | −£1.0m | £43.0m |
| Capital spending | −£11.0m | −£8.0m | −£16.0m | −£12.0m | −£16.0m | −£12.0m | −£17.0m | −£22.0m |
| Free cash flow | £8.0m | £25.0m | £11.0m | −£3.0m | £4.0m | £15.0m | −£18.0m | £21.0m |
| Total assets | £590.0m | £514.0m | £510.2m | £511.3m | £568.2m | £558.2m | £636.4m | £609.0m |
| Cash and short-term investments | £89.8m | £59.5m | £61.8m | £86.2m | £76.8m | £77.5m | £90.3m | £53.6m |
| Debt | £269.6m | £132.4m | £202.9m | £156.2m | £225.5m | £230.7m | £249.4m | £202.4m |
| Shareholders' equity | £189.3m | £186.8m | £184.9m | £189.9m | £144.4m | £148.0m | £199.6m | £217.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.2% | -5.3% | -1.0% |
| Operating income | -10.0% | — | -10.0% |
| Net income | -26.5% | -40.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 31.4% | 29.0% | 26.1% | 28.0% |
| Operating margin | 10.9% | 5.4% | 1.1% | 5.7% |
| Net margin | 5.0% | -1.7% | -4.2% | 1.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -43.2 | 3.4 | -2.5 | -17.6 | -6.6 | -8.3 | 27.9 | 19.4 | 19.7 | 19.9 |
| Price to sales | 0.5 | 0.4 | 0.3 | 0.4 | 0.4 | 0.9 | 1.7 | 1.6 | 1.6 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 1 Oct 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.08 | 0.326 | 0.296 | 0.27 | 0.246 | 0.252 | 0.229 | 0.203 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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