M 
268.00p
-0.74%
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
£410.0m
FY2017FY2026
Net income
−£1.9m
FY2017FY2026
Free cash flow
£6.7m
FY2017FY2026
Shareholders' equity
—
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £410.0m | £365.8m | £345.3m | £328.3m | £373.4m | £288.6m | £147.2m | £249.9m | £196.7m | £160.4m |
| Gross profit | £66.2m | £83.2m | £84.5m | £90.1m | £97.8m | £89.3m | £40.4m | £75.0m | £65.3m | £56.7m |
| Operating income | £15.9m | £24.0m | £28.6m | £32.5m | £43.9m | £43.1m | £5.9m | £41.0m | £36.9m | £33.0m |
| Net income | −£1.9m | £15.8m | £19.3m | £24.2m | £35.1m | £33.9m | £4.5m | £33.3m | £30.2m | £26.2m |
| Diluted earnings per share | -0.03 | 0.27 | 0.33 | 0.41 | 0.60 | 0.58 | 0.08 | 0.60 | 0.55 | 0.48 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | — | £419.4m | £378.0m | £376.3m | £367.6m | £313.1m | £322.1m | £281.2m | £242.8m | £215.7m |
| Cash and short-term investments | — | £6.5m | £12.9m | £5.2m | £33.8m | £34.3m | £76.8m | £30.3m | £41.3m | £34.1m |
| Total liabilities | — | £111.7m | £80.3m | £90.3m | £95.4m | £68.2m | £109.4m | £77.3m | £54.7m | £44.4m |
| Debt | — | £7.3m | £5.1m | £5.1m | £3.0m | £2.3m | £63.1m | — | — | — |
| Shareholders' equity | — | £307.7m | £297.7m | £286.0m | £272.2m | £244.9m | £212.6m | £203.9m | £188.1m | £171.4m |
| Shares outstanding | 58m | 59m | 59m | 58m | 58m | 58m | 58m | 56m | 55m | 55m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £10.6m | −£3.9m | £18.0m | −£14.4m | £11.8m | £24.2m | −£14.7m | £8.6m | £21.9m | £19.6m |
| Capital spending | −£3.8m | −£2.0m | −£2.0m | −£4.4m | −£3.7m | −£3.8m | −£2.4m | −£1.9m | −£1.4m | −£1.2m |
| Free cash flow | £6.7m | −£6.0m | £15.9m | −£18.9m | £8.2m | £20.3m | −£17.1m | £6.7m | £20.6m | £18.4m |
| Dividends paid | −£6.4m | −£6.4m | −£7.6m | −£9.9m | −£9.3m | −£2.9m | −£12.6m | −£18.8m | −£14.4m | −£8.9m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £173.1m | £208.0m | £157.8m | £193.9m | £151.5m | £157.3m | £78.7m | £171.0m |
| Gross profit | £34.7m | £51.4m | £31.8m | £46.7m | £37.8m | £40.9m | £21.0m | £49.2m |
| Operating income | £4.2m | £18.9m | £5.1m | £11.0m | £17.5m | £16.5m | £8.4m | £16.6m |
| Net income | £1.3m | £13.0m | £2.8m | £13.7m | £5.6m | £11.4m | £5.7m | £12.8m |
| Diluted earnings per share | 0.02 | 0.22 | 0.05 | 0.23 | 0.10 | 0.20 | 0.10 | 0.22 |
| Cash from operations | −£14.0m | £21.0m | −£25.0m | £35.0m | −£17.0m | −£1.0m | −£1.0m | −£5.0m |
| Capital spending | −£1.0m | −£1.0m | — | — | −£1.0m | −£1.0m | −£1.0m | — |
| Free cash flow | −£15.0m | £20.0m | — | — | −£18.0m | −£2.0m | −£2.0m | — |
| Total assets | £441.3m | £419.4m | £388.3m | £378.0m | £379.3m | £376.3m | £376.3m | £373.7m |
| Cash and short-term investments | £1.4m | £6.5m | — | £12.9m | −£872,000 | £5.2m | £5.2m | £12.6m |
| Debt | £24.0m | £7.3m | £18.1m | £1.6m | £18.7m | £1.3m | — | — |
| Shareholders' equity | £305.1m | £307.7m | £297.2m | £297.7m | £287.2m | £286.0m | £286.0m | £278.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.7% | 7.3% | 11.2% |
| Operating income | -21.3% | -18.1% | -5.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.3% | 22.4% | 24.2% | 26.5% |
| Operating margin | 5.1% | 7.0% | 8.9% | 11.1% |
| Net margin | 1.8% | 4.0% | 6.0% | 8.1% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -83.2 | 15.6 | 15.3 | 11.7 | 5.7 | 13.0 | 100.7 | 15.9 | 11.8 | 16.2 |
| Price to sales | 0.4 | 0.7 | 0.9 | 0.9 | 0.5 | 1.5 | 3.1 | 2.1 | 1.8 | 2.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 22 Oct 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.11 | 0.11 | 0.13 | 0.17 | 0.16 | 0.05 | 0.23 |
- 1-to-1 reverse split · 19 Dec 2014
- 5-for-1 split · 6 Jul 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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