J 
770.00p
+2.39%
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
£246.5m
FY2016FY2025
Net income
£241.4m
FY2016FY2025
Free cash flow
£9.8m
FY2016FY2025
Shareholders' equity
£1.22bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £246.5m | £174.7m | £55.5m | −£401.7m | £111.1m | £273.0m | −£25.1m | £182.6m | £61.7m | £167.2m |
| Gross profit | £243.0m | £174.3m | £55.5m | −£401.7m | £111.1m | £273.0m | −£25.1m | £182.6m | £57.7m | £163.7m |
| Research and development | — | — | £4 | £11 | £2 | £4 | £1 | £7 | £9 | £6 |
| Operating income | £241.6m | £173.1m | £54.2m | −£401.3m | £110.2m | £272.2m | −£25.7m | £183.3m | £62.1m | £166.6m |
| Net income | £241.4m | £171.7m | £52.8m | −£404.1m | £109.1m | £271.2m | −£26.8m | £180.8m | £60.0m | £165.7m |
| Diluted earnings per share | 1.49 | 1.19 | 0.36 | -2.62 | 0.70 | 1.70 | -0.17 | 1.12 | 0.37 | 1.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.29bn | £999.3m | £874.4m | £850.9m | £1.32bn | £1.24bn | £930.0m | £991.0m | £778.5m | £693.4m |
| Cash and short-term investments | £58.3m | £23.5m | £2.1m | £28.0m | £8.3m | £3.8m | £3.1m | £7.3m | £3.6m | £6.1m |
| Total liabilities | £69.6m | £120.7m | £118.9m | £120.5m | £163.0m | £165.1m | £113.3m | £139.5m | £99.7m | £68.7m |
| Debt | £65.1m | £119.6m | £109.5m | £120.2m | £159.0m | £164.4m | £112.1m | £134.6m | £99.3m | £68.4m |
| Shareholders' equity | £1.22bn | £878.6m | £755.5m | £730.4m | £1.15bn | £1.07bn | £816.7m | £851.5m | £678.8m | £624.8m |
| Shares outstanding | 162m | 145m | 148m | 154m | 157m | 160m | 161m | 161m | 161m | 161m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £9.8m | £7.1m | £7.0m | £2.9m | £2.7m | £3.8m | £5.7m | £5.2m | £4.2m | £4.0m |
| Free cash flow | £9.8m | £7.1m | £7.0m | £2.9m | £2.7m | £3.8m | £5.7m | £5.2m | £4.2m | £4.0m |
| Dividends paid | −£11.1m | −£9.7m | −£9.5m | −£8.3m | −£8.1m | −£8.1m | −£8.1m | −£8.1m | −£5.9m | −£4.5m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £24.3m | £225.8m | £20.8m | £34.3m | £140.4m | £70.2m | −£14.9m | −£7.4m |
| Gross profit | £21.3m | £222.2m | £20.8m | £34.3m | £140.4m | £70.2m | −£17.2m | −£7.4m |
| Operating income | £20.7m | £222.4m | £19.2m | £31.3m | £137.4m | £68.7m | −£17.8m | −£8.9m |
| Net income | £19.6m | £221.7m | £19.7m | £30.6m | £141.1m | £70.6m | −£8.3m | −£4.1m |
| Diluted earnings per share | 0.12 | 1.37 | 0.12 | 0.21 | 0.97 | 0.48 | -0.06 | -0.03 |
| Cash from operations | — | £3.0m | £6.0m | £3.0m | £2.0m | £1.0m | £2.0m | £1.0m |
| Total assets | £1.27bn | £1.29bn | £1.09bn | £999.3m | £969.5m | £969.5m | £874.4m | £874.4m |
| Cash and short-term investments | £22.1m | £58.3m | £40.7m | £23.5m | £8.4m | £8.4m | £2.1m | £2.1m |
| Debt | — | — | — | £52.1m | £36.6m | £36.6m | £38.4m | £38.4m |
| Shareholders' equity | £1.19bn | £1.22bn | £1.01bn | £878.6m | £864.6m | £864.6m | £755.5m | £755.5m |
Financial ratios
Data as of 4 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 98.6% | 99.8% | 100.0% | 100.0% | 100.0% | 100.0% | — | — |
| Operating margin | 98.0% | 100.2% | 97.7% | 99.9% | 99.2% | 99.7% | — | — |
| Net margin | 97.9% | 98.3% | 95.1% | 100.6% | 98.2% | 99.3% | — | — |
| Return on equity | 19.8% | 19.5% | 7.0% | -55.3% | 9.4% | 25.3% | — | — |
| Return on assets | 18.7% | 17.2% | 6.0% | -47.5% | 8.3% | 21.9% | — | — |
| Revenue growth | 41.1% | 214.7% | -113.8% | -461.7% | -59.3% | -1189.0% | — | — |
| Earnings growth | 40.6% | 225.1% | -113.1% | -470.4% | -59.8% | -1111.7% | — | — |
| Current ratio | 40.20x | 0.54x | 0.32x | 3.65x | 4.18x | 8.61x | — | — |
| Debt to equity | — | 0.06x | 0.05x | 0.01x | 0.14x | 0.15x | 0.14x | — |
| Equity ratio | 94.6% | 87.9% | 86.4% | 85.8% | 87.6% | 86.7% | — | — |
| Interest coverage | 137.53x | 110.16x | 40.60x | -283.98x | 74.78x | 187.60x | — | — |
| R&D as a share of sales | — | — | 0.0% | -0.0% | 0.0% | 0.0% | -0.0% | 0.0% |
| Buybacks as a share of market value | -12.0% | 2.4% | 3.7% | 1.7% | 2.0% | 1.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | -2.0% | 15.0% |
| Operating income | — | -2.4% | 14.9% |
| Net income | — | -2.3% | 15.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 99.1% | 94.8% | 99.1% | 98.7% |
| Operating margin | 98.5% | 90.3% | 98.1% | 98.9% |
| Net margin | 98.1% | 82.5% | 96.3% | 97.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 4.7 | 4.8 | 13.8 | -1.7 | 9.5 | 4.3 | -27.5 | 3.3 | 11.8 | 3.2 |
| Price to sales | 4.6 | 4.7 | 13.1 | -1.8 | 9.4 | 4.3 | -29.4 | 3.3 | 11.4 | 3.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 19 years. Last went ex-dividend on 29 Dec 2025.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.087 | 0.068 | 0.065 | 0.062 | 0.053 | 0.051 | 0.05 | 0.05 |
- 3-for-2 split · 12 Dec 1991
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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