G 
188.00p
-1.05%
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
£244.9m
FY2016FY2025
Net income
£7.4m
FY2016FY2025
Free cash flow
£56.8m
FY2016FY2025
Shareholders' equity
£141.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £244.9m | £226.3m | £204.0m | £172.9m | £106.0m | £80.5m | £153.1m | £123.9m | £91.4m | £73.5m |
| Research and development | — | — | — | — | — | — | — | — | — | £110,000 |
| Operating income | £28.3m | £23.2m | £13.3m | £9.2m | −£27.6m | −£33.9m | £21.6m | £8.7m | £10.7m | £8.0m |
| Net income | £7.4m | £4.4m | −£8.4m | −£19.3m | −£35.4m | −£36.4m | £3.6m | £4.9m | £7.2m | £5.7m |
| Diluted earnings per share | 0.04 | 0.02 | -0.05 | -0.11 | -0.20 | -0.22 | 0.03 | 0.04 | 0.06 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £615.9m | £585.6m | £571.5m | £595.6m | £564.7m | £532.5m | £513.1m | £480.0m | £206.4m | £159.0m |
| Cash and short-term investments | £3.0m | £3.0m | £1.5m | £5.4m | £7.3m | £3.7m | £2.6m | £3.0m | £457,000 | £4.8m |
| Total liabilities | £474.2m | £454.0m | £443.5m | £461.6m | £412.6m | £378.0m | £363.0m | £332.8m | £85.5m | £44.7m |
| Debt | £409.7m | £401.8m | £398.1m | £420.4m | £380.6m | £355.5m | £327.5m | £300.0m | £37.1m | £9.2m |
| Shareholders' equity | £141.7m | £131.6m | £128.0m | £134.0m | £152.1m | £154.4m | £150.2m | £147.2m | £120.9m | £114.3m |
| Shares outstanding | 187m | 183m | 179m | 178m | 177m | 166m | 138m | 140m | 129m | 128m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £97.9m | £95.1m | £79.5m | £63.1m | £37.1m | £15.3m | £72.3m | £57.5m | £28.0m | £26.1m |
| Capital spending | −£41.1m | −£40.0m | −£23.7m | −£43.7m | −£25.7m | −£29.2m | −£41.1m | −£42.3m | −£35.4m | −£22.8m |
| Free cash flow | £56.8m | £55.1m | £55.8m | £19.4m | £11.4m | −£13.9m | £31.2m | £15.2m | −£7.4m | £3.3m |
| Dividends paid | — | — | — | — | — | — | −£1.9m | −£1.6m | −£1.3m | −£321,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £133.1m | £123.9m | £121.0m | £114.2m | £112.1m | £104.2m | £99.8m | £88.7m |
| Operating income | £17.3m | £15.6m | £13.8m | £12.6m | £10.9m | £8.7m | £5.2m | £6.5m |
| Net income | £4.3m | £4.1m | £3.3m | £4.2m | £200,000 | −£2.3m | −£6.1m | −£14.9m |
| Diluted earnings per share | 0.02 | 0.02 | 0.02 | 0.02 | 0.00 | -0.01 | -0.03 | -0.08 |
| Cash from operations | £57.0m | £45.0m | £52.0m | £41.0m | £48.0m | £35.0m | £39.0m | £34.0m |
| Capital spending | −£19.0m | −£24.0m | −£16.0m | −£20.0m | −£12.0m | −£11.0m | −£11.0m | −£27.0m |
| Free cash flow | £38.0m | £21.0m | £36.0m | £21.0m | £36.0m | £24.0m | £28.0m | £7.0m |
| Total assets | £618.4m | £615.9m | £589.2m | £585.6m | £570.9m | £571.5m | £578.0m | £595.6m |
| Cash and short-term investments | £9.0m | £3.0m | £9.3m | £3.0m | £7.4m | £1.5m | £5.1m | £5.4m |
| Debt | £28.4m | £88.9m | £86.2m | £88.9m | £85.2m | £87.5m | £90.9m | £95.3m |
| Shareholders' equity | £140.7m | £141.7m | £134.8m | £131.6m | £127.6m | £128.0m | £129.2m | £134.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.3% | 24.9% | 15.1% |
| Operating income | 45.4% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 10.9% | 8.7% | 1.2% | 3.8% |
| Net margin | 2.5% | -1.9% | -8.5% | -5.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 37.7 | 61.8 | -22.6 | -10.0 | -12.8 | -9.9 | 110.9 | 77.3 | 39.4 | 38.2 |
| Price to sales | 1.1 | 1.2 | 0.9 | 1.1 | 4.3 | 4.5 | 2.6 | 3.1 | 3.1 | 3.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 5 Sept 2019.
| FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|
| Paid in the year | 0.014 | 0.012 | 0.011 | 0.003 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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