M 
156.00p
+0.65%
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
£1.29bn
FY2016FY2025
Net income
−£22.6m
FY2016FY2025
Free cash flow
£38.0m
FY2016FY2025
Shareholders' equity
£160.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £1.29bn | £1.32bn | £1.29bn | £1.20bn | £856.0m | £711.8m | £686.2m | £573.7m | £471.9m | £370.1m |
| Gross profit | £214.1m | £234.3m | £216.5m | £173.9m | £123.8m | £95.4m | £108.1m | £94.6m | £73.1m | £56.5m |
| Operating income | £12.9m | £24.1m | £41.6m | £35.1m | £21.0m | £5.3m | £25.9m | £25.3m | £21.1m | £14.7m |
| Net income | −£22.6m | £16.0m | £26.8m | £15.3m | £12.4m | −£3.8m | £17.2m | £14.7m | £13.6m | £8.2m |
| Diluted earnings per share | -0.22 | 0.15 | 0.26 | 0.17 | 0.14 | -0.04 | 0.21 | 0.18 | 0.17 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £625.3m | £650.7m | £654.5m | £559.8m | £373.5m | £306.3m | £281.3m | £229.2m | £207.0m | £149.3m |
| Cash and short-term investments | £54.0m | £49.2m | £56.1m | £25.9m | £15.5m | £25.5m | £13.0m | £16.7m | £28.2m | £20.2m |
| Total liabilities | £465.2m | £461.5m | £458.3m | £425.6m | £259.1m | £199.8m | £216.0m | £171.0m | £153.9m | £102.7m |
| Debt | £201.1m | £202.6m | £166.9m | £149.3m | £94.5m | £64.8m | £83.0m | £52.9m | £50.5m | £35.2m |
| Shareholders' equity | £160.1m | £181.2m | £173.3m | £120.7m | £105.1m | £100.3m | £58.0m | £53.5m | £50.0m | £45.6m |
| Shares outstanding | 103m | 106m | 104m | 92m | 91m | 88m | 81m | 80m | 80m | 80m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £43.4m | £35.3m | £63.8m | £26.2m | £11.5m | £40.1m | £15.8m | £24.2m | £17.3m | £3.6m |
| Capital spending | −£5.4m | −£14.9m | −£16.0m | −£11.1m | −£6.0m | −£3.6m | −£7.8m | −£2.4m | −£3.1m | −£2.3m |
| Free cash flow | £38.0m | £20.4m | £47.8m | £15.1m | £5.5m | £36.5m | £8.0m | £21.9m | £14.2m | £1.3m |
| Dividends paid | −£9.6m | −£17.1m | −£15.0m | −£10.9m | −£5.6m | −£2.9m | −£12.3m | −£11.3m | −£8.9m | −£1.2m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £640.3m | £671.4m | £310.2m | £670.9m | £646.1m | £678.7m | £610.4m | £635.5m |
| Gross profit | £104.9m | £111.8m | £54.8m | £115.8m | £111.8m | £110.1m | £94.5m | £93.7m |
| Operating income | £2.5m | £5.2m | £3.6m | £19.1m | £12.8m | £20.7m | £15.3m | £19.3m |
| Net income | £3.6m | −£20.1m | −£1.2m | £9.4m | £6.6m | £15.9m | £11.0m | £8.3m |
| Diluted earnings per share | 0.03 | -0.19 | -0.01 | 0.09 | 0.06 | 0.15 | 0.11 | 0.09 |
| Cash from operations | −£6.0m | £42.0m | — | £33.0m | −£8.0m | £60.0m | −£5.0m | £32.0m |
| Capital spending | −£3.0m | −£1.0m | −£1.0m | −£2.0m | −£2.0m | −£7.0m | −£8.0m | −£5.0m |
| Free cash flow | −£9.0m | £41.0m | — | £31.0m | −£10.0m | £53.0m | −£13.0m | £27.0m |
| Total assets | £667.2m | £625.3m | £651.0m | £650.7m | £669.1m | £654.5m | £593.8m | £559.8m |
| Cash and short-term investments | £54.6m | £54.0m | £39.3m | £49.2m | £31.2m | £56.1m | £20.1m | £25.9m |
| Debt | £42.6m | £185.4m | £208.0m | £185.9m | £185.3m | £162.3m | £145.0m | £129.9m |
| Shareholders' equity | £160.7m | £160.1m | £176.4m | £181.2m | £175.8m | £173.3m | £168.6m | £120.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.4% | 12.7% | 15.2% |
| Operating income | -28.4% | 19.4% | 0.1% |
| Net income | — | 43.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.2% | 16.4% | 15.9% | 15.8% |
| Operating margin | 1.4% | 2.2% | 2.1% | 2.6% |
| Net margin | -0.3% | 0.7% | 0.7% | 1.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.5 | 19.4 | 16.9 | 25.3 | 45.9 | -117.3 | 25.9 | 26.8 | 29.9 | 22.4 |
| Price to sales | 0.1 | 0.2 | 0.3 | 0.3 | 0.7 | 0.6 | 0.7 | 0.7 | 0.9 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 21 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.035 | 0.093 | 0.165 | 0.16 | 0.123 | 0.063 | 0.155 | 0.143 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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