M 
105.80p
-6.21%
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
£315.4m
FY2016FY2025
Net income
£56.6m
FY2016FY2025
Free cash flow
£28.7m
FY2016FY2025
Shareholders' equity
£213.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £315.4m | £307.9m | £297.7m | £259.8m | £214.4m | £215.4m | £228.1m | £229.8m | £214.7m | £184.0m |
| Gross profit | £112.5m | £109.5m | £102.6m | £81.6m | £35.9m | £48.8m | £63.5m | £61.7m | £58.2m | £52.4m |
| Research and development | £150,000 | £3.1m | £1.7m | £1.7m | £1.5m | — | £2.4m | £2.1m | £1.9m | £1.2m |
| Operating income | £77.8m | £74.4m | £67.5m | £56.8m | £29.3m | £6.4m | £42.7m | £45.9m | £46.6m | £39.6m |
| Net income | £56.6m | £54.1m | £50.7m | £38.8m | £21.7m | £1.1m | £31.2m | £40.1m | £35.0m | £29.1m |
| Diluted earnings per share | 0.15 | 0.14 | 0.13 | 0.10 | 0.06 | 0.00 | 0.08 | 0.11 | 0.09 | 0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £334.4m | £312.6m | £332.5m | £326.4m | £272.9m | £259.9m | £279.9m | £238.9m | £197.0m | £190.3m |
| Cash and short-term investments | £56.5m | £86.1m | £111.1m | £136.2m | £99.4m | £84.8m | £84.6m | £58.7m | £47.5m | £71.0m |
| Total liabilities | £121.4m | £132.8m | £173.5m | £193.7m | £143.2m | £144.0m | £136.0m | £94.1m | £67.7m | £67.6m |
| Debt | £43.0m | £59.8m | £90.5m | £118.1m | £80.9m | £74.2m | £69.2m | £33.7m | £10.7m | £10.8m |
| Shareholders' equity | £213.0m | £179.9m | £159.0m | £132.6m | £128.0m | £114.2m | £142.0m | £143.3m | £128.0m | £121.6m |
| Shares outstanding | 379m | 379m | 380m | 380m | 379m | 378m | 378m | 378m | 378m | 377m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £90.8m | £87.2m | £83.3m | £74.9m | £53.9m | £51.0m | £57.2m | £52.3m | £49.0m | £40.4m |
| Capital spending | −£62.1m | −£54.6m | −£49.6m | −£35.2m | −£26.4m | −£29.0m | −£28.2m | −£40.4m | −£36.7m | −£21.3m |
| Free cash flow | £28.7m | £32.6m | £33.7m | £39.7m | £27.5m | £22.0m | £29.0m | £12.0m | £12.4m | £19.2m |
| Dividends paid | −£29.8m | −£27.8m | −£23.4m | −£35.5m | — | −£31.9m | −£31.9m | −£26.5m | −£32.6m | −£18.2m |
Latest quarters
By quarter end
| Apr 2026 | Oct 2025 | Apr 2025 | Oct 2024 | Apr 2024 | Oct 2023 | Apr 2023 | Jan 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £154.3m | £161.6m | £153.8m | £157.5m | £150.4m | £153.8m | £143.8m | £71.9m |
| Gross profit | £49.8m | £60.9m | £52.0m | £63.1m | £46.4m | £59.1m | £43.5m | £21.8m |
| Operating income | £33.4m | £44.9m | £33.1m | £44.0m | £30.3m | £40.0m | £27.3m | £13.7m |
| Net income | £24.5m | £31.0m | £25.6m | £31.5m | £22.6m | £30.3m | £20.4m | £10.2m |
| Diluted earnings per share | 0.06 | 0.08 | 0.07 | 0.08 | 0.06 | 0.08 | 0.05 | 0.03 |
| Cash from operations | £32.0m | £55.0m | £35.0m | £57.0m | £29.0m | £59.0m | £11.0m | £11.0m |
| Capital spending | −£32.0m | −£34.0m | −£27.0m | −£26.0m | −£25.0m | −£28.0m | −£9.0m | −£9.0m |
| Free cash flow | £0 | £21.0m | £8.0m | £31.0m | £4.0m | £31.0m | £2.0m | £2.0m |
| Total assets | £339.0m | £334.4m | £322.6m | £312.6m | £314.0m | £332.5m | £316.5m | £316.5m |
| Cash and short-term investments | £52.8m | £56.5m | £74.9m | £86.1m | £86.4m | £111.1m | £113.1m | £113.1m |
| Debt | £23.6m | £35.2m | £23.2m | £52.4m | £26.6m | £82.2m | £34.1m | — |
| Shareholders' equity | £198.9m | £213.0m | £195.2m | £179.9m | £166.3m | £159.0m | £144.8m | £144.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.7% | 7.9% | 5.9% |
| Operating income | 11.0% | 64.7% | 7.4% |
| Net income | 13.4% | 118.7% | 7.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 35.6% | 34.4% | 30.5% | 29.3% |
| Operating margin | 24.4% | 23.4% | 19.4% | 19.9% |
| Net margin | 17.8% | 16.9% | 13.8% | 14.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.1 | 14.4 | 9.4 | 11.3 | 11.0 | 163.2 | 11.8 | 8.4 | 19.9 | 21.3 |
| Price to sales | 1.8 | 2.5 | 1.6 | 1.7 | 1.1 | 0.9 | 1.6 | 1.5 | 3.2 | 3.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 7 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.048 | 0.083 | 0.079 | 0.066 | 0.12 | 0.047 | 0.084 | 0.077 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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