M 
56.00p
-2.61%
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
£92.2m
FY2016FY2025
Net income
−£1.7m
FY2016FY2025
Free cash flow
£2.6m
FY2016FY2025
Shareholders' equity
£13.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £92.2m | £97.9m | £101.3m | £91.0m | £103.9m | £106.4m | £122.9m | £136.5m | £133.1m | £108.3m |
| Gross profit | £24.1m | £30.6m | £31.2m | £27.9m | £34.1m | £30.9m | £35.3m | £39.1m | £38.8m | £34.9m |
| Research and development | £500,000 | — | — | — | — | £464,000 | £784,000 | — | — | — |
| Operating income | £360,000 | £2.4m | −£4.6m | −£3.1m | £2.4m | £1.6m | £3.1m | £5.2m | £4.4m | £3.0m |
| Net income | −£1.7m | £512,000 | −£5.4m | −£4.4m | £4.7m | −£1.7m | £3.2m | £2.0m | £3.1m | £2.1m |
| Diluted earnings per share | -0.12 | 0.04 | -0.37 | -0.30 | 0.33 | -0.12 | 0.22 | 0.14 | 0.21 | 0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £75.9m | £79.9m | £83.2m | £92.8m | £92.2m | £90.8m | £99.8m | £114.1m | £114.3m | £111.6m |
| Cash and short-term investments | £624,000 | £4.1m | £4.8m | £6.1m | −£3.2m | −£4.0m | −£4.4m | £1 | £3.3m | £10.9m |
| Total liabilities | £62.7m | £65.1m | £69.0m | £73.4m | £68.6m | £71.9m | £78.9m | £92.1m | £87.2m | £83.3m |
| Debt | £20.4m | £21.6m | £24.5m | £25.0m | £22.5m | £26.2m | £29.9m | £25.3m | £30.7m | £30.7m |
| Shareholders' equity | £13.3m | £14.8m | £14.2m | £19.4m | £23.5m | £18.8m | £20.8m | £22.0m | £27.1m | £28.3m |
| Shares outstanding | 14m | 15m | 14m | 14m | 14m | 14m | 14m | 14m | 14m | 15m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £3.2m | £8.5m | £5.0m | £9.3m | £4.2m | £9.4m | £9.4m | £8.6m | £4.4m | £10.6m |
| Capital spending | −£618,000 | −£4.4m | −£3.5m | −£3.3m | −£2.2m | −£2.6m | −£1.9m | −£1.8m | −£1.5m | −£570,000 |
| Free cash flow | £2.6m | £4.1m | £1.5m | £6.0m | £2.0m | £6.8m | £7.5m | £6.9m | £2.9m | £10.0m |
| Dividends paid | — | — | — | — | — | — | −£5.0m | −£4.8m | −£4.6m | −£3.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £45.2m | £45.7m | £46.5m | £51.3m | £46.6m | £53.8m | £47.5m | £44.3m |
| Gross profit | £11.0m | £12.2m | £14.0m | £15.9m | £14.7m | £13.0m | £13.1m | £9.7m |
| Operating income | −£239,000 | £795,000 | £63,000 | £1.7m | £662,000 | £1.8m | −£347,000 | −£3.4m |
| Net income | −£1.8m | −£905,000 | −£793,000 | £441,000 | £71,000 | −£2.6m | −£2.7m | −£4.1m |
| Diluted earnings per share | -0.10 | -0.06 | -0.06 | 0.03 | 0.00 | -0.18 | -0.19 | -0.29 |
| Cash from operations | −£2.0m | £2.0m | — | £1.0m | £5.0m | £6.0m | −£2.0m | £5.0m |
| Capital spending | — | — | — | — | — | — | −£1.0m | −£1.0m |
| Free cash flow | — | — | — | — | — | — | −£3.0m | £4.0m |
| Total assets | £77.0m | £75.9m | £77.4m | £79.9m | £83.5m | £83.2m | £92.0m | £92.8m |
| Cash and short-term investments | −£2.3m | £624,000 | £1.8m | £4.1m | £6.3m | £4.8m | £2.8m | £6.1m |
| Debt | £1.3m | £19.5m | £2.2m | £21.2m | £22.4m | £23.8m | £24.9m | £23.5m |
| Shareholders' equity | £14.5m | £13.3m | £14.1m | £14.8m | £14.3m | £14.2m | £16.7m | £19.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.4% | -2.8% | 6.2% |
| Operating income | — | -25.7% | -22.2% |
| Net income | -27.0% | -0.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.8% | 29.8% | 30.2% | 30.2% |
| Operating margin | 1.4% | -1.3% | -0.2% | 1.7% |
| Net margin | -0.6% | -2.8% | -1.3% | 0.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.4 | 71.6 | -4.9 | -6.3 | 11.2 | -26.2 | 18.3 | 32.9 | 29.6 | 61.9 |
| Price to sales | 0.2 | 0.4 | 0.3 | 0.3 | 0.5 | 0.4 | 0.5 | 0.5 | 0.7 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Sept 2019.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.346 | 0.341 | 0.321 | 0.317 | 0.271 | 0.203 | 0.156 | 0.137 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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