G 
350.40p
+0.63%
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
£117.9m
FY2017FY2026
Net income
£154.5m
FY2017FY2026
Free cash flow
−£31.3m
FY2017FY2026
Shareholders' equity
£2.13bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £117.9m | £94.2m | £95.4m | £91.2m | £84.2m | £88.5m | £102.4m | £105.1m | £381.2m | £111.9m |
| Gross profit | £67.0m | £59.1m | £62.1m | £57.2m | £52.1m | £62.1m | £73.0m | £69.0m | £104.6m | £79.1m |
| Operating income | £24.7m | £124.1m | −£294.5m | £19.9m | £14.6m | £30.8m | £45.5m | £43.9m | £80.5m | £59.0m |
| Net income | £154.5m | £116.0m | −£307.8m | −£163.9m | £167.2m | −£201.9m | £51.8m | £49.5m | £70.3m | −£139.4m |
| Diluted earnings per share | 0.38 | 0.29 | -0.84 | -0.65 | 0.66 | -0.80 | 0.20 | 0.19 | 0.24 | -0.46 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £3.12bn | £3.03bn | £2.48bn | £2.51bn | £2.78bn | £2.56bn | £2.75bn | £2.70bn | £3.12bn | £3.46bn |
| Cash and short-term investments | £22.7m | £18.2m | £22.9m | £19.4m | £16.7m | £11.1m | £94.9m | £139.4m | £351.4m | £26.0m |
| Total liabilities | £990.1m | £1.03bn | £895.0m | £588.2m | £662.4m | £588.3m | £550.2m | £387.1m | £753.1m | £726.4m |
| Debt | £878.0m | £935.0m | £815.5m | £527.2m | £589.7m | £533.2m | £489.8m | £336.7m | £387.9m | £573.6m |
| Shareholders' equity | £2.13bn | £2.00bn | £1.58bn | £1.92bn | £2.11bn | £1.97bn | £2.20bn | £2.31bn | £2.37bn | £2.74bn |
| Shares outstanding | 403m | 405m | 365m | 253m | 253m | 253m | 253m | 265m | 298m | 302m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£31.1m | −£4.0m | −£7.6m | −£1.7m | £6.7m | £16.6m | £38.6m | £27.0m | £239.6m | −£58.3m |
| Capital spending | −£200,000 | −£600,000 | −£100,000 | −£200,000 | −£300,000 | −£400,000 | −£100,000 | −£100,000 | −£400,000 | −£4.9m |
| Free cash flow | −£31.3m | −£4.6m | −£7.7m | −£1.9m | £6.4m | £16.2m | £38.5m | £26.9m | £239.2m | −£63.2m |
| Dividends paid | −£31.2m | −£31.8m | −£32.7m | −£31.9m | −£32.7m | −£31.7m | −£33.3m | −£32.7m | −£143.7m | −£31.6m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £63.3m | £54.6m | £49.9m | £51.6m | £97.2m | £47.6m | £4.0m | £47.7m |
| Gross profit | £35.1m | £31.9m | £31.6m | £34.8m | £80.2m | £30.4m | −£4.2m | £28.7m |
| Operating income | £12.8m | £11.9m | £89.9m | £34.2m | −£45.5m | −£253.4m | −£18.3m | −£77.3m |
| Net income | £95.6m | £58.9m | £86.3m | £29.7m | −£54.4m | £304.7m | −£126.7m | £304.6m |
| Diluted earnings per share | 0.24 | 0.15 | 0.21 | 0.08 | -0.15 | 1.20 | -0.50 | 1.20 |
| Cash from operations | −£12.0m | −£19.0m | £4.0m | −£8.0m | £4.0m | −£11.0m | — | −£1.0m |
| Total assets | £3.12bn | £3.23bn | £3.03bn | £2.87bn | £2.48bn | £2.45bn | £2.45bn | £2.51bn |
| Cash and short-term investments | £22.7m | £23.1m | £18.2m | £241.8m | £22.9m | £23.4m | £23.4m | £19.4m |
| Debt | £793.4m | £996.7m | £848.0m | £765.9m | £706.7m | £650.3m | £560.1m | £511.6m |
| Shareholders' equity | £2.13bn | £2.04bn | £2.00bn | £1.93bn | £1.58bn | £1.65bn | £1.65bn | £1.92bn |
Financial ratios
Data as of 3 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 56.8% | 62.7% | 65.1% | 62.7% | 61.9% | 70.2% |
| Operating margin | 138.6% | 138.5% | -304.1% | 32.5% | 17.3% | 42.9% |
| Net margin | 131.0% | 123.1% | -322.6% | -179.7% | 198.6% | -228.1% |
| Return on equity | 7.3% | 5.8% | -19.4% | -8.5% | 7.9% | -10.2% |
| Return on assets | 5.0% | 3.8% | -12.4% | -6.5% | 6.0% | -7.9% |
| Free cash flow yield | -0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% |
| Revenue growth | 25.2% | -1.3% | 4.6% | 8.3% | -4.9% | -13.6% |
| Earnings growth | 33.2% | -137.7% | 87.8% | -198.0% | -182.8% | -489.8% |
| Current ratio | 0.54x | 0.65x | 0.26x | 0.62x | 0.52x | 0.56x |
| Debt to equity | 0.37x | 0.42x | 0.45x | 0.27x | 0.24x | 0.27x |
| Equity ratio | 68.2% | 66.1% | 63.9% | 76.5% | 76.1% | 77.0% |
| Interest coverage | 14.99x | 10.28x | -16.39x | 2.57x | 1.60x | 4.87x |
| Buybacks as a share of market value | 0.4% | -10.8% | -44.4% | 0.1% | -0.0% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.9% | 5.9% | -0.2% |
| Operating income | 7.5% | -4.3% | -7.4% |
| Net income | — | — | -12.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 59.5% | 61.6% | 62.9% | 54.8% |
| Operating margin | 70.2% | -31.6% | -14.1% | 14.5% |
| Net margin | 127.5% | -50.5% | -41.3% | 25.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.1 | 11.1 | -3.4 | -6.5 | 7.5 | -9.1 | 32.6 | 46.0 | 28.0 | -14.9 |
| Price to sales | 11.9 | 13.7 | 11.0 | 11.7 | 14.9 | 20.8 | 16.5 | 21.6 | 5.2 | 18.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 37 years. Last went ex-dividend on 4 Jun 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.053 | 0.079 | 0.148 | 0.205 | 0.126 | 0.102 | 0.126 | 0.126 |
- 29-to-25 reverse split · 27 Mar 2018
- 20-to-19 reverse split · 18 May 2017
- 1.025-to-1 reverse split · 30 Jul 2004
- 6-for-5 split · 31 Jul 1989
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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