G 
302.00p
+0.73%
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
£1.95bn
FY2016FY2025
Net income
£57.6m
FY2016FY2025
Free cash flow
£122.2m
FY2016FY2025
Shareholders' equity
£492.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £1.95bn | £1.81bn | £1.91bn | £1.74bn | £1.32bn | £1.26bn | £1.45bn | £1.50bn | £2.32bn | £1.48bn |
| Gross profit | £632.5m | £599.6m | £568.8m | £523.0m | £422.9m | £405.2m | £473.7m | £475.5m | £625.4m | £472.4m |
| Research and development | £8.9m | £7.7m | £6.7m | £8.9m | £7.2m | £2.6m | £2.4m | £3.0m | £4.9m | £4.3m |
| Operating income | £101.1m | £84.3m | £66.0m | £52.1m | £42.8m | £27.0m | £99.8m | £49.8m | £42.7m | £75.4m |
| Net income | £57.6m | £46.3m | £35.9m | £32.3m | £25.4m | −£10.8m | £43.4m | £33.8m | £12.2m | £47.4m |
| Diluted earnings per share | 0.13 | 0.10 | 0.07 | 0.06 | 0.05 | -0.02 | 0.08 | 0.05 | 0.02 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.27bn | £1.20bn | £1.30bn | £1.34bn | £1.29bn | £1.43bn | £1.16bn | £2.02bn | £2.04bn | £1.26bn |
| Cash and short-term investments | £81.8m | £57.3m | £116.5m | £99.6m | £119.1m | £267.0m | £41.6m | £37.0m | £19.8m | £25.5m |
| Total liabilities | £780.7m | £754.5m | £837.9m | £873.1m | £868.3m | £1.14bn | £858.0m | £1.27bn | £1.33bn | £970.3m |
| Debt | £207.7m | £250.3m | £315.5m | £327.6m | £361.8m | £678.2m | £330.1m | £538.1m | £539.0m | £357.3m |
| Shareholders' equity | £492.0m | £450.2m | £459.8m | £465.6m | £423.2m | £276.5m | £299.4m | £737.2m | £705.6m | £281.2m |
| Shares outstanding | 452m | 469m | 532m | 532m | 532m | 532m | 532m | 704m | 631m | 532m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £165.6m | £112.0m | £99.0m | £92.9m | £102.7m | £2.5m | £86.7m | £129.8m | £118.2m | £115.3m |
| Capital spending | −£43.4m | −£32.4m | −£37.4m | −£50.0m | −£40.2m | −£31.9m | −£44.2m | −£63.5m | −£123.3m | −£103.1m |
| Free cash flow | £122.2m | £79.6m | £61.6m | £42.9m | £62.5m | −£29.4m | £42.5m | £66.3m | −£5.1m | £12.2m |
| Dividends paid | −£8.9m | — | — | — | — | −£16.7m | −£50.3m | −£35.7m | −£16.5m | −£19.1m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.32bn | £1.02bn | £922.0m | £941.0m | £866.1m | £987.9m | £493.9m | £925.8m |
| Gross profit | £374.8m | £331.2m | £301.3m | £288.4m | £281.1m | £275.0m | £152.6m | £233.7m |
| Operating income | £60.3m | £79.5m | £38.1m | £67.7m | £27.7m | £59.1m | £27.6m | £16.4m |
| Net income | −£30.8m | £37.8m | £19.8m | £34.8m | £11.5m | £40.7m | £20.4m | −£4.8m |
| Diluted earnings per share | -0.05 | 0.08 | 0.04 | 0.07 | 0.02 | 0.08 | 0.04 | -0.01 |
| Cash from operations | −£49.0m | £108.0m | £56.0m | £120.0m | −£8.0m | £106.0m | — | −£7.0m |
| Capital spending | −£20.0m | −£24.0m | −£17.0m | −£19.0m | −£12.0m | −£24.0m | — | −£13.0m |
| Free cash flow | −£69.0m | £84.0m | £39.0m | £101.0m | −£20.0m | £82.0m | — | −£20.0m |
| Total assets | £3.82bn | £1.27bn | £1.23bn | £1.20bn | £1.27bn | £1.30bn | £1.30bn | £1.31bn |
| Cash and short-term investments | £197.7m | £81.8m | £87.9m | £57.3m | £110.4m | £116.5m | £117.0m | £68.3m |
| Debt | £1.05bn | £126.2m | £241.4m | £219.0m | £321.5m | £284.8m | £240.2m | £303.2m |
| Shareholders' equity | £1.43bn | £492.0m | £452.3m | £450.2m | £448.5m | £459.8m | £459.8m | £435.8m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 32.5% | 33.2% | 29.7% | 30.1% | 31.9% | 32.0% |
| Operating margin | 5.2% | 4.7% | 3.3% | 3.0% | 3.3% | 1.9% |
| Net margin | 3.0% | 2.6% | 1.9% | 1.9% | 1.9% | -0.9% |
| Return on equity | 11.7% | 10.3% | 7.8% | 6.9% | 6.0% | -3.9% |
| Return on assets | 4.5% | 3.8% | 2.8% | 2.4% | 2.0% | -0.8% |
| Free cash flow yield | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% |
| Revenue growth | 7.7% | -5.6% | 10.0% | 31.3% | 4.8% | -12.5% |
| Earnings growth | 24.4% | 29.0% | 11.1% | 27.2% | -335.2% | -124.9% |
| Current ratio | 0.68x | 0.70x | 0.69x | 0.76x | 0.73x | 0.87x |
| Debt to equity | 0.34x | 0.49x | 0.62x | 0.63x | 0.76x | 2.28x |
| Equity ratio | 38.7% | 37.4% | 35.4% | 34.8% | 32.8% | 19.4% |
| Interest coverage | 4.75x | 3.56x | 3.18x | 3.82x | 2.71x | 1.33x |
| R&D as a share of sales | 0.5% | 0.4% | 0.4% | 0.5% | 0.5% | 0.2% |
| Buybacks as a share of market value | 3.6% | 11.9% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.8% | 9.0% | 3.8% |
| Operating income | 24.7% | 30.2% | 2.4% |
| Net income | 21.3% | — | -0.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 32.8% | 31.4% | 31.5% | 31.1% |
| Operating margin | 4.9% | 4.1% | 3.7% | 4.0% |
| Net margin | 2.8% | 2.3% | 1.9% | 2.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.9 | 19.6 | 14.3 | 10.6 | 27.1 | -57.4 | 32.8 | 37.1 | 118.7 | 27.7 |
| Price to sales | 0.6 | 0.5 | 0.3 | 0.2 | 0.5 | 0.5 | 1.0 | 0.8 | 0.6 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 8 Jan 2026.
| FY2026 | FY2025 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.026 | 0.02 | 0.038 | 0.058 | 0.056 | 0.055 | 0.052 | 0.046 |
- 1-to-1 reverse split · 18 Feb 2000
- 2-for-1 split · 4 Mar 1996
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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