K 
314.20p
+2.28%
Close of 6 Nov 2026, in pence
At a glance
Figures in GBP, from our data supplier.
Revenue
£4.35bn
FY2017FY2026
Net income
£61.7m
FY2017FY2026
Free cash flow
£184.3m
FY2017FY2026
Shareholders' equity
£511.4m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £4.35bn | £4.08bn | £3.91bn | £3.38bn | £3.14bn | £3.26bn | £3.42bn | £3.95bn | £4.24bn | £4.13bn |
| Gross profit | £349.2m | £330.8m | £335.0m | £279.5m | £238.3m | £254.8m | £167.4m | £291.4m | £428.9m | £400.5m |
| Operating income | £112.0m | £113.7m | £110.1m | £81.5m | £45.1m | £80.0m | £27.1m | −£214.7m | £113.0m | £108.0m |
| Net income | £61.7m | £56.4m | £42.7m | £41.1m | £12.7m | −£300,000 | −£273.3m | −£194.2m | £87.3m | −£26.3m |
| Diluted earnings per share | 0.14 | 0.12 | 0.09 | 0.09 | 0.03 | -0.00 | -1.44 | -1.03 | 0.85 | -0.27 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £3.93bn | £3.55bn | £3.46bn | £2.31bn | £2.24bn | £2.28bn | £2.49bn | £2.64bn | £2.81bn | £2.78bn |
| Cash and short-term investments | £1.90bn | £1.69bn | £1.57bn | £1.39bn | £301.4m | £393.2m | £413.9m | £311.7m | £330.9m | £499.8m |
| Total liabilities | £3.42bn | £3.04bn | £2.94bn | £1.79bn | £1.68bn | £1.85bn | £2.25bn | £2.12bn | £2.21bn | £2.27bn |
| Debt | £1.85bn | £1.64bn | £1.58bn | £1.51bn | £464.6m | £564.3m | £924.3m | £507.0m | £544.0m | £646.1m |
| Shareholders' equity | £511.4m | £517.3m | £520.2m | £513.4m | £555.2m | £436.2m | £240.7m | £519.1m | £599.4m | £508.4m |
| Shares outstanding | 456m | 460m | 464m | 441m | 437m | 459m | 189m | 189m | 103m | 98m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £190.2m | £235.0m | £230.1m | £144.0m | £45.2m | £48.0m | −£106.6m | −£82.7m | £130.3m | £75.7m |
| Capital spending | −£5.9m | −£11.1m | −£18.5m | −£8.4m | −£16.9m | −£9.9m | −£8.6m | −£11.6m | −£22.1m | −£15.8m |
| Free cash flow | £184.3m | £223.9m | £211.6m | £135.6m | £28.3m | £38.1m | −£115.2m | −£94.3m | £108.2m | £59.9m |
| Dividends paid | −£34.1m | −£24.1m | −£7.3m | — | −£33.8m | −£113.1m | −£52.6m | −£52.6m | −£66.1m | −£49.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £2.34bn | £2.01bn | £2.10bn | £1.97bn | £2.04bn | £1.86bn | £1.85bn | £927.5m |
| Gross profit | £208.9m | £151.0m | £184.5m | £146.3m | £180.5m | £147.0m | £160.8m | £87.8m |
| Operating income | £59.7m | £63.0m | £68.0m | £45.7m | £72.6m | £44.1m | £55.2m | £17.6m |
| Net income | £37.0m | £24.7m | £36.0m | £20.4m | £23.1m | £19.6m | £20.6m | £10.3m |
| Diluted earnings per share | 0.08 | 0.05 | 0.08 | 0.04 | 0.05 | 0.04 | 0.05 | 0.02 |
| Cash from operations | £215.0m | −£25.0m | £236.0m | −£42.0m | £199.0m | −£2.0m | £234.0m | £128.0m |
| Capital spending | −£2.0m | −£3.0m | −£7.0m | −£3.0m | −£3.0m | −£3.0m | −£4.0m | — |
| Free cash flow | £213.0m | −£28.0m | £229.0m | −£45.0m | £196.0m | −£5.0m | £230.0m | — |
| Total assets | £3.93bn | £3.15bn | £3.55bn | £3.01bn | £3.46bn | £2.21bn | £2.31bn | £2.31bn |
| Cash and short-term investments | £1.90bn | £1.13bn | £1.69bn | £1.14bn | £1.57bn | £333.5m | £377.9m | £376.9m |
| Debt | £1.45bn | £1.07bn | £1.26bn | £1.12bn | £1.44bn | £1.15bn | £1.37bn | — |
| Shareholders' equity | £511.4m | £520.9m | £517.3m | £498.0m | £520.2m | £517.5m | £513.4m | −£535.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.8% | 5.9% | 0.9% |
| Operating income | 11.2% | 7.0% | -0.9% |
| Net income | 14.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.1% | 8.2% | 8.1% | 8.3% |
| Operating margin | 2.7% | 2.7% | 2.5% | 1.7% |
| Net margin | 1.4% | 1.3% | 1.0% | -0.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 22.7 | 18.1 | 16.2 | 11.6 | 20.5 | -1685.7 | -0.5 | -0.8 | 2.5 | -20.8 |
| Price to sales | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.2 | 0.0 | 0.0 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 16 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.078 | 0.055 | 0.017 | 0.429 | 0.572 | 0.551 | 0.517 | 0.549 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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