M 
1,542.00p
+0.92%
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
£653.0m
FY2017FY2026
Net income
£631.7m
FY2017FY2026
Free cash flow
—
FY2017FY2026
Shareholders' equity
£2.52bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £653.0m | −£3.5m | £419.3m | −£64.0m | −£620.1m | £1.08bn | £62.0m | £200.8m | £223.3m | £407.9m |
| Operating income | £641.6m | −£14.0m | £408.0m | −£58.9m | −£616.4m | £1.08bn | £67.6m | £204.6m | £226.1m | £410.5m |
| Net income | £631.7m | −£16.8m | £398.4m | −£67.8m | −£623.2m | £1.08bn | £58.3m | £197.2m | £220.1m | £405.3m |
| Diluted earnings per share | 4.01 | -0.09 | 1.92 | -0.30 | -2.70 | 4.56 | 0.26 | 0.90 | 1.01 | 1.89 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £2.76bn | £2.55bn | £2.90bn | £2.64bn | £2.71bn | £3.35bn | £2.12bn | £2.01bn | £1.76bn | £1.53bn |
| Cash and short-term investments | £18.4m | £21.6m | £38.6m | £42.2m | £35.9m | £108.7m | £19.5m | £25.9m | £23.0m | £15.2m |
| Total liabilities | £239.4m | £235.1m | £237.1m | £194.2m | £226.8m | £145.8m | £152.3m | £150.5m | £106.0m | £116.0m |
| Debt | £222.9m | £223.4m | £223.2m | £99.9m | £174.9m | £139.8m | £152.3m | £99.3m | £63.2m | £67.2m |
| Shareholders' equity | £2.52bn | £2.32bn | £2.66bn | £2.44bn | £2.48bn | £3.20bn | £1.96bn | £1.86bn | £1.66bn | £1.41bn |
| Shares outstanding | 157m | 180m | 208m | 228m | 231m | 236m | 224m | 219m | 218m | 214m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £2.6m | £2.7m | £10.7m | £9.6m | £9.3m | £9.9m | £9.1m | £7.4m | £4.5m | £5.3m |
| Capital spending | −£2.6m | — | — | — | — | — | — | — | — | — |
| Free cash flow | — | £2.7m | £10.7m | £9.6m | £9.3m | £9.9m | £9.1m | £7.4m | £4.5m | £5.3m |
| Dividends paid | −£909,000 | −£4.4m | −£7.2m | −£5.3m | −£4.7m | −£5.6m | −£4.0m | −£3.0m | −£2.7m | −£2.1m |
Latest quarters
By quarter end
| Apr 2026 | Oct 2025 | Apr 2025 | Oct 2024 | Apr 2024 | Jan 2024 | Oct 2023 | Jul 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | −£8.0m | £661.0m | −£151.8m | £159.4m | £499.4m | £249.7m | −£80.1m | −£40.0m |
| Operating income | −£13.4m | £655.0m | −£167.5m | £153.6m | £493.5m | £246.8m | −£85.5m | −£42.8m |
| Net income | −£17.5m | £649.3m | −£164.1m | £147.3m | £489.6m | £244.8m | −£91.2m | −£45.6m |
| Diluted earnings per share | -0.11 | 3.60 | -0.91 | 0.71 | 2.35 | 1.18 | -0.40 | -0.20 |
| Cash from operations | — | £2.0m | — | £1.0m | £3.0m | £1.0m | £7.0m | £3.0m |
| Capital spending | — | −£2.0m | — | — | −£6.0m | — | — | — |
| Free cash flow | — | £0 | — | — | −£3.0m | — | — | — |
| Total assets | £2.76bn | £2.95bn | £2.55bn | £2.87bn | £2.90bn | £2.90bn | £2.48bn | £2.48bn |
| Cash and short-term investments | £18.4m | £23.6m | £21.6m | £41.8m | £38.6m | £38.6m | £29.1m | £29.1m |
| Debt | £50.0m | — | £50.0m | £50.0m | £50.0m | £50.0m | £90.0m | £90.0m |
| Shareholders' equity | £2.52bn | £2.70bn | £2.32bn | £2.63bn | £2.66bn | £2.66bn | £2.28bn | £2.28bn |
Financial ratios
Data as of 28 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating margin | 98.3% | 404.7% | 193.0% | 114.1% | 101.2% | 99.6% |
| Net margin | 96.7% | 485.7% | 95.0% | 106.0% | 100.5% | 99.9% |
| Return on equity | 25.1% | -0.7% | 15.0% | -2.8% | -25.1% | 33.6% |
| Return on assets | 22.9% | -0.7% | 13.7% | -2.6% | -23.0% | 32.2% |
| Free cash flow yield | 0.0% | — | — | — | — | — |
| Revenue growth | -19028.0% | -100.8% | -755.0% | -89.7% | -157.5% | 1641.3% |
| Earnings growth | -3870.4% | -104.2% | -687.2% | -89.1% | -157.8% | 1750.2% |
| Current ratio | 0.32x | 4.52x | 0.75x | 0.67x | 0.35x | 22.25x |
| Debt to equity | 0.02x | 0.02x | 0.02x | 0.03x | 0.05x | 0.04x |
| Equity ratio | 91.3% | 90.8% | 91.8% | 92.6% | 91.6% | 95.6% |
| Interest coverage | 81.74x | -1.63x | 97.92x | -10.11x | -118.40x | 213.73x |
| Buybacks as a share of market value | 12.6% | 13.3% | 8.9% | 1.2% | 2.3% | -5.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | -9.6% | — |
| Operating income | — | -9.9% | 120.3% |
| Net income | — | -10.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 96.6% | 97.2% | 98.4% | 99.8% |
| Net margin | 94.7% | 94.1% | 95.7% | 96.7% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 3.8 | -161.5 | 6.6 | -35.7 | -3.5 | 3.0 | 52.3 | 10.6 | 7.2 | 4.0 |
| Price to sales | 3.7 | -784.3 | 6.3 | -37.9 | -3.5 | 3.0 | 49.2 | 10.4 | 7.1 | 4.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 37 years. Last went ex-dividend on 6 Aug 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.009 | 0.005 | 0.021 | 0.032 | 0.024 | 0.02 | 0.025 | 0.019 |
- 5-for-1 split · 25 Jul 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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