I 
12.25p
-1.61%
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
£154.9m
FY2017FY2026
Net income
−£9.2m
FY2017FY2026
Free cash flow
£7.9m
FY2017FY2026
Shareholders' equity
£54.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £154.9m | £143.5m | £127.0m | £115.6m | £103.0m | £111.9m | £112.6m | £103.7m | £97.7m | £89.6m |
| Research and development | — | £2.2m | £1.9m | £1.4m | £1.3m | £1.4m | £1.5m | £40,000 | £92,000 | £74,000 |
| Operating income | −£1.7m | −£46.8m | £13.0m | £11.4m | £14.2m | £14.4m | £17.1m | £18.8m | £14.6m | £16.2m |
| Net income | −£9.2m | −£55.1m | £6.4m | £7.0m | £9.4m | £10.2m | £13.6m | £12.9m | £12.3m | £12.1m |
| Diluted earnings per share | -0.08 | -0.49 | 0.06 | 0.06 | 0.08 | 0.09 | 0.12 | 0.12 | 0.11 | 0.11 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £240.4m | £254.7m | £230.9m | £218.7m | £208.3m | £228.5m | £224.9m | £191.0m | £173.7m | £143.5m |
| Cash and short-term investments | £8.9m | £13.1m | £15.8m | £13.8m | £15.3m | £23.0m | £15.5m | £10.1m | £9.5m | £8.9m |
| Total liabilities | £186.2m | £191.2m | £107.5m | £98.1m | £89.4m | £111.9m | £113.0m | £86.6m | £75.2m | £50.0m |
| Debt | £117.5m | £115.0m | £58.1m | £53.6m | £56.6m | £77.7m | £73.1m | £49.3m | £36.1m | £19.5m |
| Shareholders' equity | £54.2m | £63.5m | £123.4m | £120.6m | £118.9m | £116.6m | £112.0m | £104.4m | £98.5m | £93.5m |
| Shares outstanding | 114m | 113m | 114m | 114m | 113m | 113m | 113m | 112m | 111m | 109m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £14.9m | £25.3m | £35.9m | £33.9m | £35.5m | £40.1m | £36.6m | £31.4m | £35.6m | £33.9m |
| Capital spending | −£7.0m | −£11.2m | −£11.8m | −£10.8m | −£10.9m | −£17.1m | −£17.2m | −£18.6m | −£18.9m | −£13.4m |
| Free cash flow | £7.9m | £14.1m | £24.1m | £23.0m | £24.5m | £23.0m | £19.5m | £12.8m | £16.7m | £20.5m |
| Dividends paid | — | −£4.8m | −£6.1m | −£6.1m | −£7.6m | −£7.1m | −£8.3m | −£8.0m | −£8.9m | −£3.4m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £77.1m | £77.7m | £81.5m | £62.0m | £65.0m | £62.0m | £63.1m | £52.6m |
| Operating income | −£1.5m | −£263,000 | £3.3m | £3.3m | £7.1m | £7.0m | £5.9m | £6.4m |
| Net income | −£4.1m | −£5.1m | −£55.5m | £384,000 | £3.0m | £3.4m | £3.2m | £3.8m |
| Diluted earnings per share | -0.04 | -0.04 | -0.49 | 0.00 | 0.03 | 0.03 | 0.03 | 0.03 |
| Cash from operations | £10.0m | £8.0m | £15.0m | £10.0m | £19.0m | £16.0m | £19.0m | £14.0m |
| Capital spending | −£3.0m | −£5.0m | −£3.0m | −£7.0m | −£4.0m | −£7.0m | −£7.0m | −£3.0m |
| Free cash flow | £7.0m | £3.0m | £12.0m | £3.0m | £15.0m | £9.0m | £12.0m | £11.0m |
| Total assets | £240.4m | £241.7m | £254.7m | £294.4m | £230.9m | £222.5m | £218.7m | £225.5m |
| Cash and short-term investments | £8.9m | £5.1m | £13.1m | £67.2m | £15.8m | £10.7m | £13.8m | £17.8m |
| Debt | £101.4m | £100.2m | £99.9m | £99.6m | £42.5m | £42.3m | £37.8m | £48.0m |
| Shareholders' equity | £54.2m | £58.4m | £63.5m | £120.9m | £123.4m | £122.3m | £120.6m | £119.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.2% | 6.7% | 7.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -16.3% | -4.5% | 0.6% | 6.9% |
| Net margin | -21.5% | -9.4% | -4.1% | 2.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.5 | -0.4 | 13.2 | 24.8 | 15.0 | 18.8 | 26.4 | 32.3 | 29.8 | 35.3 |
| Price to sales | 0.1 | 0.1 | 0.7 | 1.5 | 1.4 | 1.7 | 3.2 | 4.0 | 3.7 | 4.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 17 years. Last went ex-dividend on 9 Jan 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.043 | 0.054 | 0.055 | 0.093 | 0.065 | 0.076 | 0.074 | 0.023 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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