M 
146.00p
+3.55%
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
£1.27bn
FY2017FY2026
Net income
£5.6m
FY2017FY2026
Free cash flow
−£7.0m
FY2017FY2026
Shareholders' equity
£26.0m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £1.27bn | £1.17bn | £1.09bn | £1.44bn | £1.32bn | £721.4m | £1.02bn | £1.06bn | £991.2m | £822.0m |
| Gross profit | £89.2m | £90.8m | £73.1m | £76.3m | £99.0m | £56.8m | £73.9m | £79.9m | £76.4m | £62.2m |
| Operating income | £17.7m | £13.5m | −£600,000 | £6.8m | £25.0m | £12.6m | £20.6m | £25.5m | £21.3m | £12.9m |
| Net income | £5.6m | £3.2m | −£8.4m | −£600,000 | £16.9m | £7.6m | £15.2m | £18.3m | £16.0m | £8.7m |
| Diluted earnings per share | 0.07 | 0.04 | -0.09 | -0.01 | 0.19 | 0.08 | 0.17 | 0.19 | 0.16 | 0.09 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £299.2m | £242.1m | £197.8m | £249.1m | £318.2m | £204.7m | £189.7m | £195.4m | £138.4m | £120.9m |
| Cash and short-term investments | £5.2m | £6.6m | £9.2m | £5.6m | £7.8m | £6.0m | £10.8m | £13.8m | £15.6m | £7.3m |
| Total liabilities | £273.2m | £215.2m | £166.7m | £210.2m | £278.8m | £177.1m | £169.5m | £169.4m | £112.0m | £106.2m |
| Debt | £222.8m | £179.8m | £131.5m | £166.1m | £81.8m | £49.3m | £141.5m | £46.2m | £69.0m | £64.9m |
| Shareholders' equity | £26.0m | £26.9m | £31.1m | £38.9m | £39.4m | £27.6m | £20.2m | £26.0m | £26.4m | £14.7m |
| Shares outstanding | 84m | 86m | 89m | 89m | 90m | 90m | 90m | 95m | 99m | 100m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £8.4m | £19.4m | £11.1m | £33.1m | −£11.3m | £6.7m | £23.3m | £20.9m | £15.0m | £3.2m |
| Capital spending | −£15.4m | −£7.6m | −£2.6m | −£9.4m | −£6.9m | −£3.6m | −£12.3m | −£4.2m | −£1.3m | −£6.9m |
| Free cash flow | −£7.0m | £11.8m | £8.5m | £23.7m | −£18.2m | £3.1m | £11.0m | £16.7m | £13.7m | −£3.7m |
| Dividends paid | −£1.7m | — | — | −£30.4m | −£19.0m | −£10.8m | −£7.0m | −£6.9m | −£4.9m | −£5.7m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £620.9m | £647.7m | £610.0m | £563.1m | £479.4m | £607.2m | £303.6m | £653.5m |
| Gross profit | £44.8m | £44.4m | £46.1m | £44.7m | £35.4m | £32.6m | £18.9m | £32.2m |
| Operating income | £9.2m | £8.5m | £7.4m | £6.1m | −£1.2m | £1.6m | −£1.9m | £600,000 |
| Net income | £2.9m | £2.7m | £1.7m | £1.5m | −£4.9m | −£3.5m | −£1.8m | −£3.0m |
| Diluted earnings per share | 0.03 | 0.03 | 0.02 | 0.02 | -0.06 | -0.04 | -0.02 | -0.03 |
| Cash from operations | £4.0m | £3.0m | £7.0m | £11.0m | £1.0m | £9.0m | — | £8.0m |
| Capital spending | −£14.0m | −£1.0m | −£5.0m | −£2.0m | — | −£1.0m | — | −£3.0m |
| Free cash flow | −£10.0m | £2.0m | £2.0m | £9.0m | — | £8.0m | — | £5.0m |
| Total assets | £299.2m | £280.2m | £242.1m | £226.4m | £197.8m | £246.0m | £246.0m | £249.1m |
| Cash and short-term investments | £5.2m | £4.5m | £6.6m | £11.2m | £9.2m | £11.2m | £11.2m | £5.6m |
| Debt | £166.4m | £7.1m | £128.4m | £109.0m | £78.5m | £106.5m | £159.8m | £105.9m |
| Shareholders' equity | £26.0m | £24.3m | £26.9m | £28.4m | £31.1m | £35.9m | £35.9m | £38.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.1% | 12.0% | 5.7% |
| Operating income | 37.6% | 7.0% | 0.2% |
| Net income | — | -5.9% | -8.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 7.4% | 6.6% | 6.9% | 7.2% |
| Operating margin | 1.3% | 0.8% | 1.1% | 1.5% |
| Net margin | 0.4% | -0.0% | 0.3% | 0.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 21.9 | 35.7 | -14.1 | -168.9 | 7.7 | 41.4 | 17.1 | 15.2 | 12.5 | 25.3 |
| Price to sales | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.4 | 0.3 | 0.3 | 0.2 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 20 Nov 2025.
| FY2026 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.076 | 0.071 | 0.049 | 0.013 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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