M 
83.90p
+3.20%
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
£300.8m
FY2016FY2025
Net income
£6.3m
FY2016FY2025
Free cash flow
£20.2m
FY2016FY2025
Shareholders' equity
£120.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £300.8m | £270.4m | £280.7m | £290.4m | £264.5m | £210.2m | £225.2m | £217.3m | £196.0m | £179.8m |
| Gross profit | £112.2m | £105.4m | £105.7m | £98.1m | £89.5m | £69.8m | £72.0m | £66.5m | £60.3m | £55.7m |
| Operating income | £13.0m | £23.6m | £22.3m | £21.7m | £20.1m | £13.7m | £13.6m | £11.8m | £9.7m | £8.3m |
| Net income | £6.3m | £15.5m | £15.0m | £15.6m | £12.6m | £10.2m | £9.6m | £8.7m | £7.4m | £6.0m |
| Diluted earnings per share | 0.04 | 0.10 | 0.09 | 0.10 | 0.08 | 0.06 | 0.06 | 0.06 | 0.05 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £277.8m | £246.9m | £221.2m | £216.2m | £216.2m | £172.7m | £172.8m | £142.1m | £138.6m | £118.6m |
| Cash and short-term investments | £14.4m | £12.9m | £7.7m | £5.7m | £12.3m | £7.2m | £5.6m | £4.6m | £2.0m | £1.9m |
| Total liabilities | £157.2m | £123.7m | £106.7m | £110.1m | £121.3m | £92.9m | £104.1m | £79.6m | £81.4m | £79.2m |
| Debt | £89.4m | £57.7m | £43.3m | £43.7m | £44.8m | £36.5m | £44.2m | £17.9m | £16.7m | £18.0m |
| Shareholders' equity | £120.6m | £123.3m | £114.6m | £106.0m | £94.9m | £79.8m | £68.7m | £62.5m | £57.2m | £39.3m |
| Shares outstanding | 158m | 159m | 161m | 160m | 159m | 159m | 158m | 158m | 148m | 135m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £24.8m | £25.4m | £33.5m | £18.0m | £23.8m | £23.3m | £19.5m | £11.8m | £6.5m | £3.3m |
| Capital spending | −£4.6m | −£2.9m | −£2.2m | −£3.3m | −£2.1m | −£804,000 | −£2.6m | −£1.5m | −£1.7m | −£1.1m |
| Free cash flow | £20.2m | £22.5m | £31.3m | £14.7m | £21.7m | £22.5m | £16.8m | £10.4m | £4.7m | £2.2m |
| Dividends paid | −£5.8m | −£5.8m | −£5.5m | −£5.1m | −£4.3m | −£1.1m | −£3.7m | −£3.4m | −£2.9m | −£2.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £148.9m | £154.2m | £146.6m | £140.8m | £129.6m | £139.1m | £141.6m | £151.2m |
| Gross profit | £56.2m | £56.8m | £55.4m | £53.9m | £51.5m | £54.4m | £51.3m | £51.0m |
| Operating income | £7.1m | £5.5m | £7.0m | £13.0m | £10.6m | £11.3m | £10.8m | £11.9m |
| Net income | £3.5m | £2.6m | £3.7m | £8.3m | £7.2m | £7.5m | £7.5m | £8.7m |
| Diluted earnings per share | 0.02 | 0.02 | 0.02 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Cash from operations | £10.0m | £12.0m | £12.0m | £11.0m | £14.0m | £13.0m | £20.0m | £11.0m |
| Capital spending | −£1.0m | −£3.0m | −£1.0m | −£1.0m | −£1.0m | — | −£1.0m | −£1.0m |
| Free cash flow | £9.0m | £9.0m | £11.0m | £10.0m | £13.0m | — | £19.0m | £10.0m |
| Total assets | £276.4m | £277.8m | £277.7m | £246.9m | £231.5m | £221.2m | £225.0m | £216.2m |
| Cash and short-term investments | £10.0m | £14.4m | £13.5m | £12.9m | £9.8m | £7.7m | £5.9m | £5.7m |
| Debt | £38.3m | £40.4m | £37.5m | £22.1m | £16.5m | £14.5m | £16.2m | £15.8m |
| Shareholders' equity | £118.2m | £120.6m | £122.2m | £123.3m | £117.4m | £114.6m | £111.0m | £106.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.2% | 7.4% | 5.9% |
| Operating income | -15.6% | -1.0% | 6.0% |
| Net income | -26.1% | -9.1% | 1.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 38.1% | 36.9% | 35.9% | 34.1% |
| Operating margin | 6.4% | 7.1% | 7.1% | 6.3% |
| Net margin | 3.8% | 4.6% | 4.7% | 4.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 18.0 | 11.0 | 12.6 | 10.6 | 16.4 | 13.7 | 17.8 | 12.9 | 15.5 | 13.7 |
| Price to sales | 0.4 | 0.6 | 0.7 | 0.6 | 0.8 | 0.7 | 0.8 | 0.5 | 0.6 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 11 Sept 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.037 | 0.036 | 0.035 | 0.032 | 0.027 | 0.007 | 0.023 | 0.021 |
- 3-for-2 split · 25 May 1995
- 3-for-2 split · 27 May 1993
- 3-for-2 split · 17 May 1990
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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