H 
58.55p
-4.49%
Close of 6 Nov 2026, in pence
At a glance
Figures in GBP, from our data supplier.
Revenue
£6.42bn
FY2017FY2026
Net income
−£58.2m
FY2017FY2026
Free cash flow
£59.7m
FY2017FY2026
Shareholders' equity
£403.6m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £6.42bn | £6.61bn | £6.95bn | £7.58bn | £6.59bn | £5.65bn | £5.93bn | £6.07bn | £5.75bn | £5.08bn |
| Gross profit | £400,000 | £24.7m | £292.6m | £426.8m | £421.4m | £292.3m | £346.3m | £451.5m | £435.2m | £388.7m |
| Operating income | −£6.8m | £17.9m | £25.1m | £197.0m | £210.1m | £95.1m | £95.1m | £233.7m | £243.4m | £230.3m |
| Net income | −£58.2m | −£7.8m | −£4.9m | £138.3m | £154.2m | £61.5m | £47.5m | £161.7m | £165.8m | £139.1m |
| Diluted earnings per share | -0.04 | -0.00 | -0.00 | 0.09 | 0.09 | 0.04 | 0.03 | 0.11 | 0.11 | 0.10 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.64bn | £1.77bn | £1.78bn | £1.90bn | £2.08bn | £1.87bn | £1.94bn | £1.50bn | £1.51bn | £1.31bn |
| Cash and short-term investments | £111.8m | £168.5m | £121.8m | £145.6m | £296.2m | £410.6m | £484.5m | £129.7m | £122.9m | £112.0m |
| Total liabilities | £1.23bn | £1.30bn | £1.22bn | £1.23bn | £1.28bn | £1.00bn | £1.09bn | £801.4m | £808.2m | £723.0m |
| Debt | £244.9m | £312.2m | £244.3m | £199.8m | £185.1m | £201.1m | £228.7m | — | — | £400,000 |
| Shareholders' equity | £403.6m | £466.7m | £557.6m | £670.3m | £796.2m | £871.8m | £853.4m | £701.5m | £700.5m | £586.4m |
| Shares outstanding | 1,568m | 1,596m | 1,596m | 1,595m | 1,633m | 1,693m | 1,691m | 1,479m | 1,473m | 1,463m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £65.8m | £102.6m | £95.8m | £165.7m | £171.7m | £5.1m | £354.2m | £168.9m | £162.5m | £134.0m |
| Capital spending | −£6.1m | −£7.0m | −£23.4m | −£29.1m | −£24.4m | −£18.8m | −£25.8m | −£13.5m | −£15.1m | −£12.9m |
| Free cash flow | £59.7m | £95.6m | £72.4m | £136.6m | £147.3m | −£13.7m | £328.4m | £155.4m | £147.4m | £121.1m |
| Dividends paid | −£7.0m | −£47.8m | −£83.3m | −£165.1m | −£186.4m | −£36.4m | −£121.6m | −£129.1m | −£109.7m | −£42.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £3.17bn | £3.25bn | £3.24bn | £3.37bn | £3.41bn | £3.54bn | £3.74bn | £3.84bn |
| Gross profit | £427.6m | £423.0m | £447.1m | £496.0m | −£290.7m | £583.3m | −£225.1m | £651.9m |
| Operating income | −£13.9m | £20.1m | £21.1m | £15.6m | −£7.1m | £32.2m | £100.0m | £97.0m |
| Net income | −£58.5m | £300,000 | −£10.8m | £3.0m | −£17.2m | £12.3m | £71.6m | £66.7m |
| Diluted earnings per share | -0.04 | 0.00 | -0.01 | 0.00 | -0.01 | 0.01 | 0.04 | 0.04 |
| Cash from operations | £26.0m | £39.0m | £56.0m | £45.0m | £44.0m | £47.0m | £116.0m | £47.0m |
| Capital spending | −£3.0m | −£2.0m | −£4.0m | −£3.0m | −£9.0m | −£13.0m | −£16.0m | −£12.0m |
| Free cash flow | £23.0m | £37.0m | £52.0m | £42.0m | £35.0m | £34.0m | £100.0m | £35.0m |
| Total assets | £1.64bn | £1.68bn | £1.77bn | £1.72bn | £1.78bn | £1.78bn | £1.90bn | £1.89bn |
| Cash and short-term investments | £111.8m | £169.9m | £168.5m | £154.0m | £121.8m | £151.9m | £145.6m | £191.4m |
| Debt | £50.9m | £168.0m | £76.3m | £212.8m | £109.2m | £130.6m | £51.3m | £279.7m |
| Shareholders' equity | £403.6m | £471.1m | £466.7m | £483.1m | £557.6m | £609.2m | £670.3m | £665.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.4% | 2.6% | 4.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 0.2% | 2.7% | 3.7% | 5.1% |
| Operating margin | 0.1% | 0.8% | 1.4% | 2.3% |
| Net margin | -0.5% | 0.2% | 0.7% | 1.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -16.3 | -115.2 | -261.6 | 12.6 | 12.3 | 40.3 | 50.9 | 16.6 | 12.4 | 19.2 |
| Price to sales | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 15 Oct 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.003 | 0.004 | 0.04 | 0.03 | 0.028 | 0.022 | 0.029 | 0.039 |
- 2-for-1 split · 24 Jan 2000
- 2-for-1 split · 16 Nov 1998
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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