I 
66.90p
+1.06%
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
£3.51bn
FY2016FY2025
Net income
£220.0m
FY2016FY2025
Free cash flow
£176.0m
FY2016FY2025
Shareholders' equity
£1.80bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £3.51bn | £3.49bn | £3.62bn | £3.73bn | £3.45bn | £2.78bn | £3.31bn | £3.21bn | £3.13bn | £3.06bn |
| Gross profit | £464.0m | £581.0m | £311.0m | £593.0m | £690.0m | £486.0m | £619.0m | £812.5m | £847.4m | £814.7m |
| Operating income | £464.0m | £318.0m | £238.0m | £593.0m | £674.0m | £467.0m | £619.0m | £691.0m | £693.0m | £763.0m |
| Net income | £220.0m | £408.0m | £210.0m | £428.0m | £378.0m | £285.0m | £473.0m | £466.0m | £409.0m | £448.0m |
| Diluted earnings per share | 0.06 | 0.10 | 0.05 | 0.11 | 0.09 | 0.07 | 0.12 | 0.12 | 0.10 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £4.29bn | £4.19bn | £4.19bn | £4.47bn | £4.24bn | £3.95bn | £3.57bn | £3.41bn | £3.35bn | £3.58bn |
| Cash and short-term investments | £302.0m | £427.0m | £340.0m | £348.0m | £736.0m | £668.0m | £246.0m | £95.0m | £126.0m | £561.0m |
| Total liabilities | £2.46bn | £2.35bn | £2.36bn | £2.60bn | £2.72bn | £2.80bn | £2.69bn | £2.56bn | £2.62bn | £2.83bn |
| Debt | £876.0m | £838.0m | £878.0m | £962.0m | £1.11bn | £1.19bn | £1.11bn | £1.05bn | £1.06bn | £1.20bn |
| Shareholders' equity | £1.80bn | £1.81bn | £1.79bn | £1.82bn | £1.48bn | £1.12bn | £848.0m | £815.0m | £687.0m | £722.0m |
| Shares outstanding | 3,793m | 3,920m | 4,062m | 4,048m | 4,053m | 4,025m | 4,020m | 4,017m | 4,015m | 4,027m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £202.0m | £333.0m | £385.0m | £304.0m | £171.0m | £525.0m | £472.0m | £424.0m | £456.0m | £647.0m |
| Capital spending | −£26.0m | −£49.0m | −£70.0m | −£78.0m | −£45.0m | −£66.0m | −£68.0m | −£56.0m | −£46.0m | −£29.0m |
| Free cash flow | £176.0m | £284.0m | £315.0m | £226.0m | £126.0m | £459.0m | £404.0m | £368.0m | £410.0m | £618.0m |
| Dividends paid | −£187.0m | −£198.0m | −£201.0m | −£201.0m | −£201.0m | −£201.0m | −£320.0m | −£315.0m | −£494.0m | −£663.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.60bn | £1.93bn | £792.5m | £1.89bn | £1.60bn | £1.99bn | £1.64bn | £819.5m |
| Gross profit | £120.0m | £333.0m | £59.0m | £381.0m | £200.0m | £224.0m | £97.0m | £33.0m |
| Operating income | £120.0m | £333.0m | £59.0m | £318.0m | £200.0m | £224.0m | £97.0m | £27.5m |
| Net income | £56.0m | £176.0m | £22.0m | £142.0m | £266.0m | £168.0m | £42.0m | £22.0m |
| Diluted earnings per share | 0.01 | 0.05 | 0.01 | 0.04 | 0.07 | 0.04 | 0.01 | 0.01 |
| Cash from operations | £75.0m | £159.0m | £43.0m | £344.0m | −£11.0m | £306.0m | £79.0m | — |
| Capital spending | −£11.0m | −£22.0m | −£2.0m | −£8.0m | −£6.0m | −£33.0m | −£37.0m | — |
| Free cash flow | £64.0m | £137.0m | £41.0m | £336.0m | −£17.0m | £273.0m | £42.0m | — |
| Total assets | £4.36bn | £4.29bn | £4.06bn | £4.19bn | £4.30bn | £4.19bn | £4.34bn | £4.34bn |
| Cash and short-term investments | £264.0m | £302.0m | £274.0m | £427.0m | £354.0m | £340.0m | £264.0m | £264.0m |
| Debt | £389.0m | £782.0m | £771.0m | £748.0m | £775.0m | £781.0m | £867.0m | £743.0m |
| Shareholders' equity | £1.73bn | £1.80bn | £1.67bn | £1.81bn | £1.89bn | £1.79bn | £1.71bn | £1.76bn |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 13.2% | 16.7% | 8.6% | 15.9% | 20.0% | 17.5% |
| Operating margin | 13.2% | 15.6% | 7.0% | 15.9% | 19.5% | 12.8% |
| Net margin | 6.3% | 11.7% | 5.8% | 11.5% | 10.9% | 10.2% |
| Return on equity | 12.2% | 22.6% | 11.8% | 23.5% | 25.5% | 25.4% |
| Return on assets | 5.1% | 9.7% | 5.0% | 9.6% | 8.9% | 7.2% |
| Free cash flow yield | 0.1% | 0.2% | 0.2% | 0.1% | 0.1% | 0.2% |
| Revenue growth | 0.7% | -3.8% | -2.8% | 8.0% | 24.2% | -15.9% |
| Earnings growth | -46.1% | 94.3% | -50.9% | 13.2% | 32.6% | -39.7% |
| Current ratio | 1.23x | 1.63x | 1.50x | 1.23x | 1.32x | 1.32x |
| Debt to equity | 0.43x | 0.41x | 0.44x | 0.47x | 0.70x | 0.99x |
| Equity ratio | 42.0% | 43.2% | 42.6% | 40.7% | 34.9% | 28.4% |
| Interest coverage | 9.67x | 23.65x | 4.11x | 15.61x | 11.62x | 8.71x |
| Buybacks as a share of market value | 3.2% | 3.5% | -0.4% | 0.1% | -0.7% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.0% | 4.8% | 1.7% |
| Operating income | -7.9% | -0.1% | -4.9% |
| Net income | -19.9% | -5.0% | -7.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.9% | 13.6% | 15.2% | 19.3% |
| Operating margin | 11.2% | 11.2% | 13.4% | 17.3% |
| Net margin | 9.0% | 8.8% | 9.4% | 11.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.2 | 7.1 | 12.2 | 7.1 | 11.8 | 15.1 | 12.8 | 10.8 | 16.3 | 18.6 |
| Price to sales | 0.9 | 0.8 | 0.7 | 0.8 | 1.3 | 1.6 | 1.8 | 1.6 | 2.1 | 2.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 15 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.08 | 0.079 | 0.073 |
- 1-to-1 reverse split · 11 Mar 2005
- 1-to-1 reverse split · 2 Feb 2004
- 1-to-1 reverse split · 12 Jun 2002
- 3.303-for-1 split · 2 Feb 2001
- 1.304-to-1 reverse split · 27 Jul 2000
- 2-for-1 split · 5 Jul 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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