I 
415.00p
+0.97%
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
−£7.2m
FY2016FY2025
Net income
−£14.5m
FY2016FY2025
Free cash flow
£8.3m
FY2016FY2025
Shareholders' equity
£813.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | −£7.2m | −£16.7m | £64.0m | −£206.1m | £243.5m | £243.7m | £142.9m | −£51.2m | £71.9m | £127.3m |
| Gross profit | −£10.9m | −£16.7m | £64.0m | −£206.1m | £243.5m | £243.7m | £142.9m | −£51.2m | £67.2m | £123.3m |
| Research and development | — | — | £1 | £3 | £2 | £4 | £3 | — | — | — |
| Operating income | −£13.9m | −£17.7m | £53.6m | −£216.8m | £241.7m | £242.3m | £141.7m | −£51.1m | £71.7m | £127.0m |
| Net income | −£14.5m | −£20.6m | £48.5m | −£224.3m | £240.4m | £240.8m | £139.6m | −£53.1m | £70.0m | £125.9m |
| Diluted earnings per share | -0.07 | -0.09 | 0.17 | -0.74 | 0.82 | 0.94 | 0.48 | -0.18 | 0.24 | 0.43 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £903.6m | £1.12bn | £1.31bn | £1.33bn | £1.53bn | £1.15bn | £688.9m | £481.6m | £537.7m | £496.7m |
| Cash and short-term investments | £10.6m | £13.4m | £16.8m | £26.3m | £28.3m | £30.0m | £13.8m | £6.5m | £13.1m | £13.1m |
| Total liabilities | £90.4m | £88.6m | £91.0m | £53.7m | £52.7m | £53.7m | £32.0m | £31.6m | £30.8m | £31.4m |
| Debt | £87.0m | £83.1m | £87.1m | £51.6m | £49.1m | £48.9m | £30.1m | £30.7m | £29.4m | £30.4m |
| Shareholders' equity | £813.2m | £1.03bn | £1.22bn | £1.28bn | £1.48bn | £1.09bn | £657.0m | £450.0m | £506.9m | £465.3m |
| Shares outstanding | 210m | 240m | 281m | 304m | 293m | 256m | 290m | 290m | 290m | 290m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £8.3m | £8.3m | £8.6m | £5.1m | £2.8m | £964,000 | £3.8m | £1.6m | £2.4m | £45.3m |
| Free cash flow | £8.3m | £8.3m | £8.6m | £5.1m | £2.8m | £964,000 | £3.8m | £1.6m | £2.4m | £45.3m |
| Dividends paid | −£11.3m | −£12.6m | −£12.6m | −£9.0m | −£6.5m | −£10.1m | −£5.5m | −£4.5m | −£3.5m | −£2.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £158.9m | £32.2m | −£28.9m | £333,000 | −£8.2m | −£4.1m | £9.8m | £4.9m |
| Gross profit | £156.3m | £28.8m | −£32.4m | −£3.2m | −£8.2m | −£4.1m | £4.4m | £4.9m |
| Operating income | £154.1m | £28.1m | −£33.2m | −£3.7m | −£13.9m | −£7.0m | £4.9m | £2.5m |
| Net income | £148.8m | £26.8m | −£41.3m | −£4.9m | −£15.8m | −£7.9m | £5.0m | £2.5m |
| Diluted earnings per share | 0.86 | 0.13 | -0.20 | -0.02 | -0.07 | -0.03 | 0.02 | 0.01 |
| Cash from operations | −£3.0m | £5.0m | £2.0m | — | £6.0m | £3.0m | £6.0m | £3.0m |
| Total assets | £208.1m | £903.6m | £947.3m | £1.12bn | £1.21bn | £1.21bn | £1.31bn | £1.31bn |
| Cash and short-term investments | £2.2m | £10.6m | £21.2m | £13.4m | £11.1m | £11.1m | £16.8m | £16.8m |
| Debt | — | £34.9m | £35.0m | £33.7m | — | — | — | — |
| Shareholders' equity | £207.5m | £813.2m | £852.8m | £1.03bn | £1.11bn | £1.11bn | £1.22bn | £1.22bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -67.3% | — | — |
| Operating income | -60.0% | — | — |
| Net income | -59.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 115.7% | 102.3% | 98.8% | 98.0% |
| Operating margin | 132.2% | 117.4% | 90.0% | 94.7% |
| Net margin | 147.4% | 127.1% | 84.1% | 90.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -57.2 | -44.7 | 23.2 | -5.7 | 6.7 | 4.5 | 6.9 | -13.8 | 10.6 | 5.0 |
| Price to sales | -115.4 | -55.4 | 17.6 | -6.2 | 6.6 | 4.5 | 6.8 | -14.3 | 10.3 | 5.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 19 years. Last went ex-dividend on 8 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.052 | 0.051 | 0.047 | 0.042 | 0.015 | 0.038 | 0.043 | 0.03 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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