I 
77.30p
+0.65%
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
£372.1m
FY2016FY2025
Net income
£3.1m
FY2016FY2025
Free cash flow
−£5.1m
FY2016FY2025
Shareholders' equity
£382.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £372.1m | £366.2m | £405.8m | £512.9m | £408.7m | £316.2m | £409.3m | £391.4m | £362.6m | £434.7m |
| Gross profit | £96.0m | £114.3m | £143.8m | £196.6m | £140.8m | £79.9m | £158.8m | £154.4m | £149.3m | £166.1m |
| Research and development | — | £13.3m | £11.8m | — | — | — | £33,000 | £12,000 | £95,000 | £99,000 |
| Operating income | £22.7m | £27.1m | £35.0m | £107.4m | £69.9m | £13.2m | £82.2m | £87.5m | £86.4m | £85.8m |
| Net income | £3.1m | £15.1m | £21.1m | £86.9m | £31.8m | −£28.0m | £66.1m | £77.1m | £73.5m | £90.4m |
| Diluted earnings per share | 0.01 | 0.04 | 0.05 | 0.22 | 0.08 | -0.07 | 0.16 | 0.19 | 0.18 | 0.22 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £744.7m | £752.1m | £754.2m | £762.8m | £756.1m | £679.8m | £771.1m | £707.0m | £744.8m | £705.1m |
| Cash and short-term investments | £21.0m | £9.3m | £23.9m | £54.3m | £61.2m | £19.6m | £19.5m | £36.0m | £31.5m | £45.8m |
| Total liabilities | £362.3m | £356.8m | £354.4m | £346.6m | £332.9m | £281.9m | £306.8m | £258.9m | £324.0m | £375.6m |
| Debt | £170.5m | £165.9m | £168.3m | £133.3m | £127.3m | £117.8m | £134.7m | £84.4m | £148.5m | £178.6m |
| Shareholders' equity | £382.5m | £395.3m | £399.9m | £416.2m | £423.2m | £397.9m | £464.3m | £448.0m | £420.8m | £329.5m |
| Shares outstanding | 396m | 396m | 393m | 401m | 411m | 410m | 413m | 409m | 409m | 411m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £39.7m | £53.7m | £58.3m | £121.9m | £86.5m | £44.6m | £76.2m | £80.0m | £93.9m | £93.3m |
| Capital spending | −£44.8m | −£45.2m | −£68.1m | −£63.9m | −£31.4m | −£24.1m | −£38.8m | −£31.2m | −£33.7m | −£59.2m |
| Free cash flow | −£5.1m | £8.4m | −£9.8m | £58.0m | £55.1m | £20.5m | £37.4m | £48.9m | £60.2m | £34.1m |
| Dividends paid | −£15.8m | −£20.0m | −£34.9m | −£33.7m | −£16.8m | −£14.7m | −£60.1m | −£65.0m | −£32.1m | −£27.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £164.2m | £178.7m | £193.4m | £188.0m | £178.2m | £183.1m | £222.7m | £253.6m |
| Gross profit | £36.6m | £42.7m | £53.3m | £60.0m | £54.4m | £72.4m | £71.8m | £96.5m |
| Operating income | £172,000 | £10.2m | £12.5m | £12.6m | £14.5m | £3.0m | £28.8m | £48.7m |
| Net income | −£20.3m | −£2.6m | £5.7m | £6.5m | £8.6m | −£1.3m | £22.4m | £46.1m |
| Diluted earnings per share | -0.05 | -0.01 | 0.01 | 0.02 | 0.02 | -0.00 | 0.06 | 0.11 |
| Cash from operations | −£3.0m | £29.0m | £10.0m | £47.0m | £5.0m | £42.0m | £16.0m | £64.0m |
| Capital spending | −£15.0m | −£23.0m | −£20.0m | −£20.0m | −£24.0m | −£33.0m | −£34.0m | −£41.0m |
| Free cash flow | −£18.0m | £6.0m | −£10.0m | £27.0m | −£19.0m | £9.0m | −£18.0m | £23.0m |
| Total assets | £729.9m | £744.7m | £786.6m | £752.1m | £760.2m | £754.2m | £772.4m | £762.8m |
| Cash and short-term investments | £9.9m | £21.0m | £22.6m | £9.3m | £6.6m | £23.9m | £24.1m | £54.3m |
| Debt | £171.9m | £150.6m | £176.4m | £140.3m | £153.4m | £133.8m | £121.1m | £107.9m |
| Shareholders' equity | £356.6m | £382.5m | £390.9m | £395.3m | £394.4m | £399.9m | £414.2m | £416.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.1% | 3.3% | 0.4% |
| Operating income | -40.5% | 11.4% | -11.7% |
| Net income | -67.2% | — | -29.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.5% | 33.2% | 32.4% | 35.5% |
| Operating margin | 6.7% | 11.6% | 11.6% | 16.0% |
| Net margin | 2.5% | 7.6% | 5.5% | 12.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 180.6 | 46.2 | 28.4 | 7.1 | 26.2 | -30.3 | 19.6 | 10.5 | 14.9 | 8.5 |
| Price to sales | 1.5 | 1.9 | 1.5 | 1.2 | 2.0 | 2.7 | 3.2 | 2.1 | 3.0 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 7 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.015 | 0.04 | 0.071 | 0.089 | 0.083 | 0.041 | 0.115 | 0.095 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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