L 
199.00p
+2.31%
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
£271.4m
FY2016FY2025
Net income
£20.3m
FY2016FY2025
Free cash flow
£33.4m
FY2016FY2025
Shareholders' equity
£103.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £271.4m | £242.5m | £209.0m | £206.3m | £228.2m | £176.2m | £172.1m | £163.9m | £167.6m | £133.7m |
| Gross profit | £110.1m | £97.5m | £82.8m | £71.4m | £82.3m | £68.0m | £62.3m | £50.6m | £48.4m | £40.5m |
| Research and development | £3.6m | £3.2m | £2.3m | £1.9m | £3.0m | £4.0m | £2.4m | £4.2m | £2.5m | £900,000 |
| Operating income | £31.6m | £23.2m | £22.2m | £19.0m | £35.3m | £29.6m | £19.9m | £7.7m | £14.4m | £12.0m |
| Net income | £20.3m | £14.6m | £16.7m | £11.0m | £27.1m | £27.9m | £13.1m | £1.5m | £10.0m | £6.6m |
| Diluted earnings per share | 0.13 | 0.10 | 0.11 | 0.07 | 0.17 | 0.18 | 0.08 | 0.01 | 0.06 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £251.4m | £244.8m | £176.8m | £178.1m | £202.7m | £163.7m | £120.4m | £123.6m | £142.3m | £102.5m |
| Cash and short-term investments | £4.4m | £4.5m | £4.9m | £6.0m | £7.3m | £10.8m | £1.4m | £4.7m | £5.8m | £4.1m |
| Total liabilities | £147.5m | £149.0m | £83.0m | £91.4m | £115.0m | £93.3m | £73.3m | £82.4m | £102.3m | £69.7m |
| Debt | £63.2m | £79.2m | £27.4m | £34.7m | £45.0m | £25.0m | £28.8m | £36.4m | £42.8m | £33.8m |
| Shareholders' equity | £103.9m | £95.8m | £93.8m | £86.7m | £87.7m | £70.4m | £47.1m | £41.2m | £40.0m | £32.8m |
| Shares outstanding | 161m | 154m | 156m | 156m | 158m | 158m | 158m | 161m | 161m | 148m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £39.0m | £14.7m | £29.0m | £38.6m | £26.1m | £23.4m | £18.7m | £12.3m | £17.2m | £2.6m |
| Capital spending | −£5.6m | −£7.9m | −£8.2m | −£5.8m | −£6.6m | −£4.4m | −£3.6m | −£3.2m | −£7.2m | −£6.0m |
| Free cash flow | £33.4m | £6.8m | £20.8m | £32.8m | £19.5m | £19.0m | £15.1m | £9.1m | £10.0m | −£3.4m |
| Dividends paid | −£7.7m | −£7.5m | −£7.2m | −£10.9m | −£11.2m | −£4.9m | −£1.9m | −£1.9m | −£1.8m | −£1.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £142.6m | £145.7m | £125.7m | £132.9m | £109.6m | £107.9m | £101.1m | £99.9m |
| Gross profit | £57.6m | £59.9m | £52.8m | £50.5m | £44.9m | £43.0m | £38.0m | £36.4m |
| Operating income | £11.6m | £20.0m | £11.6m | £13.1m | £10.1m | £12.4m | £9.8m | £9.5m |
| Net income | £6.9m | £13.7m | £6.6m | £7.7m | £6.9m | £11.4m | £5.3m | £6.8m |
| Diluted earnings per share | 0.05 | 0.09 | 0.04 | 0.05 | 0.04 | 0.07 | 0.03 | 0.04 |
| Cash from operations | £1.0m | £24.0m | £14.0m | £9.0m | — | £31.0m | −£5.0m | £36.0m |
| Capital spending | −£3.0m | −£3.0m | −£2.0m | −£3.0m | −£1.0m | −£4.0m | −£2.0m | −£3.0m |
| Free cash flow | −£2.0m | £21.0m | £12.0m | £6.0m | — | £27.0m | −£7.0m | £33.0m |
| Total assets | £267.0m | £251.4m | £243.7m | £244.8m | £202.3m | £176.8m | £182.4m | £178.1m |
| Cash and short-term investments | £8.3m | £4.4m | £8.3m | £4.5m | £5.0m | £4.9m | £4.0m | £5.3m |
| Debt | £2.6m | £58.1m | £77.6m | £74.8m | £45.9m | £24.3m | £42.2m | £30.4m |
| Shareholders' equity | £106.1m | £103.9m | £92.1m | £95.8m | £90.5m | £93.8m | £84.8m | £86.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.6% | 9.0% | 10.2% |
| Operating income | 18.5% | 1.3% | 10.7% |
| Net income | 22.7% | -6.2% | 13.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.4% | 38.9% | 38.4% | 36.1% |
| Operating margin | 10.7% | 10.3% | 12.1% | 10.9% |
| Net margin | 6.8% | 6.7% | 8.8% | 7.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.4 | 13.4 | 11.8 | 13.5 | 20.0 | 14.4 | 15.2 | 37.5 | 11.5 | 15.1 |
| Price to sales | 0.8 | 0.8 | 0.9 | 0.7 | 2.4 | 2.3 | 1.2 | 0.3 | 0.7 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 1 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.063 | 0.051 | 0.049 | 0.046 | 0.071 | 0.073 | 0.015 | 0.012 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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