M 
178.20p
+1.02%
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
£632.1m
FY2016FY2025
Net income
£14.4m
FY2016FY2025
Free cash flow
£22.9m
FY2016FY2025
Shareholders' equity
£655.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £632.1m | £619.2m | £671.2m | £719.4m | £589.3m | £469.5m | £541.8m | £491.0m | £430.2m | £396.9m |
| Research and development | £1.3m | £1.8m | £3.6m | £3.5m | £3.1m | £3.1m | £5.5m | £4.9m | £3.9m | £3.4m |
| Operating income | £58.7m | £53.9m | £41.0m | £91.0m | £74.8m | £9.4m | £72.5m | £65.2m | £54.2m | £47.1m |
| Net income | £14.4m | £31.0m | £18.6m | £26.8m | £54.8m | £2.4m | £58.2m | £52.0m | £42.5m | £37.4m |
| Diluted earnings per share | 0.06 | 0.12 | 0.07 | 0.10 | 0.27 | 0.01 | 0.29 | 0.26 | 0.21 | 0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.04bn | £1.08bn | £1.11bn | £1.21bn | £596.0m | £614.4m | £562.6m | £513.6m | £414.4m | £333.1m |
| Cash and short-term investments | £4.9m | £18.9m | £34.5m | £56.3m | £41.2m | £103.7m | £53.3m | £46.0m | £20.3m | £21.3m |
| Total liabilities | £385.7m | £414.8m | £472.8m | £547.8m | £251.7m | £326.6m | £266.8m | £246.8m | £176.8m | £116.0m |
| Debt | £181.9m | £188.2m | £252.1m | £292.9m | £82.3m | £179.3m | £113.2m | £83.1m | £44.1m | £15.3m |
| Shareholders' equity | £655.7m | £661.3m | £641.3m | £660.3m | £343.3m | £286.9m | £295.0m | £265.6m | £236.2m | £215.7m |
| Shares outstanding | 253m | 254m | 254m | 278m | 202m | 200m | 201m | 199m | 199m | 202m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £38.9m | £76.8m | £77.7m | £85.3m | £65.5m | £12.4m | £88.1m | £63.3m | £57.3m | £49.4m |
| Capital spending | −£16.0m | −£9.2m | −£20.8m | −£30.1m | −£21.9m | −£14.8m | −£22.9m | −£27.3m | −£18.9m | −£12.9m |
| Free cash flow | £22.9m | £67.6m | £56.9m | £55.2m | £43.6m | −£2.4m | £65.2m | £36.0m | £38.4m | £36.5m |
| Dividends paid | −£19.2m | −£21.0m | −£31.6m | −£38.7m | −£17.9m | −£17.9m | −£33.2m | −£29.3m | −£24.1m | −£19.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £317.8m | £472.4m | £159.8m | £312.5m | £306.7m | £317.1m | £354.1m | £371.0m |
| Operating income | £21.6m | £49.7m | £9.1m | £25.0m | £28.9m | £8.1m | £34.5m | £46.2m |
| Net income | £15.2m | £9.9m | £4.5m | £14.9m | £16.1m | £5.5m | £13.1m | £9.6m |
| Diluted earnings per share | 0.06 | 0.04 | 0.02 | 0.06 | 0.06 | 0.02 | 0.05 | 0.03 |
| Cash from operations | £12.0m | £42.0m | −£3.0m | £51.0m | £25.0m | £54.0m | £23.0m | £83.0m |
| Capital spending | −£8.0m | −£3.0m | −£4.0m | −£5.0m | −£3.0m | −£10.0m | −£10.0m | −£22.0m |
| Free cash flow | £4.0m | £39.0m | −£7.0m | £46.0m | £22.0m | £44.0m | £13.0m | £61.0m |
| Total assets | £1.07bn | £1.04bn | £1.10bn | £1.08bn | £1.12bn | £1.11bn | £1.23bn | £1.21bn |
| Cash and short-term investments | £6.4m | £4.9m | £16.7m | £18.9m | £36.6m | £34.5m | £65.4m | £56.3m |
| Debt | £148.9m | £148.4m | £173.9m | £158.5m | £197.1m | £215.4m | £258.3m | £256.8m |
| Shareholders' equity | £670.8m | £655.7m | £670.5m | £661.3m | £661.7m | £641.3m | £680.6m | £660.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.2% | 6.1% | 5.1% |
| Operating income | -13.6% | 44.3% | 4.6% |
| Net income | -18.7% | 43.5% | -6.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 9.0% | 9.3% | 8.9% | 10.2% |
| Net margin | 3.6% | 3.4% | 4.0% | 6.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 31.8 | 24.1 | 38.1 | 28.3 | 25.5 | — | 29.7 | 17.8 | 21.3 | 15.8 |
| Price to sales | 0.7 | 1.2 | 1.1 | 1.1 | 2.4 | 3.2 | 3.2 | 1.9 | 2.1 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 4 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.045 | 0.076 | 0.083 | 0.125 | 0.153 | 0.09 | 0.087 | 0.08 |
- 1.003-to-1 reverse split · 8 Jul 2004
- 2-for-1 split · 4 Sept 1989
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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