H 
203.50p
+3.93%
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
£130.7m
FY2016FY2025
Net income
£9.5m
FY2016FY2025
Free cash flow
−£61.1m
FY2016FY2025
Shareholders' equity
£699.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £130.7m | £181.6m | £72.4m | £166.7m | £109.9m | £70.0m | £85.5m | £78.1m | £53.7m | £33.7m |
| Operating income | £28.0m | £74.6m | £54.2m | £44.5m | £30.5m | −£3.2m | £17.1m | £9.5m | £4.7m | £2.9m |
| Net income | £9.5m | £57.2m | £38.0m | £27.8m | £94.0m | £25.8m | £25.5m | £34.1m | £49.7m | £39.9m |
| Diluted earnings per share | 0.03 | 0.17 | 0.12 | 0.09 | 0.29 | 0.08 | 0.08 | 0.11 | 0.15 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.04bn | £1.05bn | £824.4m | £781.3m | £766.5m | £666.4m | £624.1m | £574.3m | £497.0m | £438.5m |
| Cash and short-term investments | £27.1m | £117.4m | £27.2m | £11.6m | £12.0m | £12.7m | £11.8m | £8.6m | £8.4m | £13.0m |
| Total liabilities | £343.3m | £360.8m | £186.7m | £178.7m | £188.5m | £177.7m | £160.4m | £132.4m | £87.6m | £103.5m |
| Debt | £174.2m | £165.6m | £64.1m | £60.2m | £37.9m | £84.1m | £82.9m | £73.0m | £40.6m | £52.5m |
| Shareholders' equity | £699.0m | £691.7m | £637.7m | £602.7m | £578.0m | £488.7m | £463.8m | £441.9m | £409.3m | £334.9m |
| Shares outstanding | 334m | 331m | 329m | 326m | 325m | 323m | 322m | 324m | 325m | 386m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£51.1m | £34.5m | £2.9m | £37.2m | £49.9m | £20.7m | £27.2m | −£8.8m | £23.8m | £3.5m |
| Capital spending | −£10.1m | −£47.6m | −£396,000 | −£53.2m | −£32,000 | −£115,000 | −£351,000 | −£1,000 | −£9,000 | −£25,000 |
| Free cash flow | −£61.1m | −£13.1m | £2.5m | −£16.1m | £49.8m | £20.6m | £26.9m | −£8.8m | £23.8m | £3.4m |
| Dividends paid | −£5.4m | −£4.9m | −£4.4m | −£4.0m | −£5.9m | −£1.1m | −£3.0m | −£2.7m | −£2.5m | −£2.2m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £41.3m | £83.3m | £47.5m | £140.4m | £41.3m | £54.2m | £18.2m | £104.3m |
| Operating income | −£22.0m | −£12.2m | −£10.8m | £6.2m | −£5.7m | £46.2m | £2.8m | −£51.3m |
| Net income | −£25.4m | −£220,000 | £9.7m | £42.5m | £14.8m | £35.1m | £322.6m | £322.6m |
| Diluted earnings per share | -0.08 | -0.00 | 0.03 | 0.13 | 0.04 | 0.11 | 0.98 | 0.99 |
| Cash from operations | −£21.0m | £24.0m | −£76.0m | £68.0m | −£33.0m | £35.0m | −£32.0m | £43.0m |
| Capital spending | — | −£7.0m | −£3.0m | — | — | — | — | — |
| Free cash flow | — | £17.0m | −£79.0m | — | — | — | — | — |
| Total assets | £1.04bn | £1.04bn | £1.06bn | £1.05bn | £866.5m | £824.4m | £784.4m | £781.3m |
| Cash and short-term investments | £9.5m | £27.1m | £9.8m | £117.4m | £9.2m | £27.2m | £8.5m | £11.6m |
| Debt | £232,000 | £173.3m | £189.4m | £164.4m | £89.9m | £63.7m | £72.3m | £60.1m |
| Shareholders' equity | £670.8m | £699.0m | £698.3m | £691.7m | £650.0m | £637.7m | £603.1m | £602.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.8% | 13.3% | 25.8% |
| Operating income | -14.3% | — | 33.1% |
| Net income | -30.2% | -18.2% | -18.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 32.9% | 36.5% | 31.3% | 26.6% |
| Net margin | 21.4% | 24.0% | 34.5% | 47.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 59.0 | 9.8 | 10.5 | 12.4 | 6.2 | 13.2 | 17.8 | 10.8 | 7.1 | 8.7 |
| Price to sales | 4.3 | 3.1 | 5.5 | 2.1 | 5.3 | 4.8 | 5.3 | 4.7 | 6.6 | 10.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 10 years. Last went ex-dividend on 23 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.012 | 0.017 | 0.015 | 0.014 | 0.012 | 0.018 | 0.003 | 0.009 |
- 10-to-1 reverse split · 3 May 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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