J 
149.60p
-0.73%
Close of 6 Nov 2026, in pence
At a glance
Figures in GBP, from our data supplier.
Revenue
£535.4m
FY2016FY2025
Net income
£37.1m
FY2016FY2025
Free cash flow
£38.3m
FY2016FY2025
Shareholders' equity
£275.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £535.4m | £513.4m | £465.3m | £385.7m | £271.4m | £229.8m | £350.6m | £321.1m | £290.9m | £256.7m |
| Gross profit | £203.9m | £513.4m | £167.1m | £135.0m | £81.1m | £55.4m | £142.8m | £130.2m | £121.0m | £104.4m |
| Operating income | £65.8m | £512.2m | £45.4m | £34.0m | £8.4m | −£28.0m | £42.7m | £37.2m | £35.5m | £30.5m |
| Net income | £37.1m | £35.6m | £27.3m | £29.0m | £6.6m | −£26.9m | £30.9m | £26.8m | £25.7m | £20.6m |
| Diluted earnings per share | 0.09 | 0.08 | 0.06 | 0.07 | 0.01 | -0.06 | 0.08 | 0.14 | 0.07 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £579.5m | £562.3m | £509.0m | £433.5m | £412.9m | £382.9m | £435.4m | £384.3m | £361.8m | £359.4m |
| Cash and short-term investments | £11.0m | £11.5m | £9.6m | £6.1m | £5.2m | £7.8m | £8.3m | £7.1m | £5.4m | £2.9m |
| Total liabilities | £304.4m | £255.4m | £229.9m | £148.9m | £140.5m | £128.3m | £227.9m | £193.9m | £194.2m | £212.3m |
| Debt | £170.2m | £127.1m | £114.5m | £54.1m | £65.3m | £41.6m | £136.0m | £105.5m | £96.6m | £101.9m |
| Shareholders' equity | £275.1m | £306.9m | £279.1m | £284.6m | £272.4m | £254.6m | £207.5m | £190.4m | £167.6m | £147.1m |
| Shares outstanding | 397m | 420m | 422m | 444m | 445m | 444m | 374m | 195m | 369m | 369m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £139.9m | £141.8m | £121.4m | £94.5m | £44.6m | £64.5m | £106.1m | £82.5m | £77.9m | £72.6m |
| Capital spending | −£101.6m | −£50.6m | −£93.0m | −£23.7m | −£66.2m | −£50.7m | −£22.3m | −£67.0m | −£59.6m | −£50.0m |
| Free cash flow | £38.3m | £91.2m | £28.4m | £70.8m | −£21.6m | £13.8m | £83.8m | £15.5m | £18.3m | £22.6m |
| Dividends paid | −£17.4m | −£13.3m | −£10.6m | −£3.5m | −£33.0m | −£3.5m | −£12.0m | −£10.7m | −£9.5m | −£7.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £258.0m | £277.9m | £257.5m | £269.3m | £244.1m | £250.3m | £215.0m | £209.5m |
| Gross profit | £99.4m | £106.2m | £257.5m | £32.7m | £158.0m | £28.8m | £16.4m | £25.4m |
| Operating income | £25.9m | £18.4m | £47.4m | £32.7m | £22.0m | £28.8m | £16.4m | £25.4m |
| Net income | £14.9m | £22.5m | £14.6m | £21.8m | £13.8m | £17.3m | £10.0m | £24.2m |
| Diluted earnings per share | 0.04 | 0.06 | 0.04 | 0.05 | 0.03 | 0.04 | 0.02 | 0.05 |
| Cash from operations | £55.0m | £81.0m | £58.0m | £84.0m | £57.0m | £71.0m | £50.0m | £59.0m |
| Capital spending | −£49.0m | −£47.0m | −£54.0m | −£47.0m | −£60.0m | −£49.0m | −£44.0m | −£43.0m |
| Free cash flow | £6.0m | £34.0m | £4.0m | £37.0m | −£3.0m | £22.0m | £6.0m | £16.0m |
| Total assets | £605.9m | £579.5m | £587.6m | £562.3m | £529.4m | £509.0m | £465.3m | £433.5m |
| Cash and short-term investments | £6.4m | £11.0m | £11.5m | £11.5m | £10.0m | £9.6m | £6.0m | £6.1m |
| Debt | £18.5m | £130.8m | £117.3m | £86.3m | £89.9m | £76.8m | £51.6m | £24.9m |
| Shareholders' equity | £269.3m | £275.1m | £293.8m | £306.9m | £288.7m | £279.1m | £269.1m | £284.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.6% | 18.4% | 11.0% |
| Operating income | 24.6% | — | 11.4% |
| Net income | 8.6% | — | 13.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 68.4% | 53.7% | 48.1% | 45.5% |
| Operating margin | 55.1% | 34.6% | 26.6% | 21.2% |
| Net margin | 6.9% | 6.8% | 4.5% | 5.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.4 | 16.0 | 21.9 | 14.8 | 99.6 | -23.1 | 23.7 | 8.5 | 20.7 | 20.6 |
| Price to sales | 1.0 | 1.1 | 1.3 | 1.1 | 2.4 | 2.7 | 2.1 | 0.7 | 1.8 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 16 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.032 | 0.043 | 0.032 | 0.025 | 0.008 | 0.033 | 0.029 | 0.026 |
- 5-for-2 split · 7 Jun 1994
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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