M 
8,625.00p
+0.88%
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
£71.8m
FY2017FY2026
Net income
£20.4m
FY2017FY2026
Free cash flow
—
FY2017FY2026
Shareholders' equity
£402.5m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £71.8m | £72.1m | £79.5m | £73.6m | £66.0m | £65.7m | £64.9m | £65.4m | £70.3m | £78.2m |
| Gross profit | £38.5m | £42.2m | £48.4m | £40.6m | £40.9m | £43.2m | £41.4m | £40.8m | £43.4m | £52.1m |
| Operating income | £31.8m | £36.3m | £41.4m | £34.0m | £34.7m | £37.4m | £35.7m | £35.4m | £37.9m | £46.8m |
| Net income | £20.4m | £23.5m | £28.4m | £26.5m | £26.9m | £30.9m | £28.3m | £28.0m | £29.9m | £36.2m |
| Diluted earnings per share | 5.22 | 6.03 | 7.29 | 6.79 | 6.90 | 7.92 | 7.26 | 7.18 | 7.66 | 9.29 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £467.5m | £491.9m | £475.6m | £457.1m | £422.2m | £427.4m | £425.1m | £426.1m | £413.7m | £380.4m |
| Cash and short-term investments | £920,000 | £524,000 | £739,000 | £776,000 | £643,000 | £597,000 | £3.6m | £2.0m | £5.4m | £825,000 |
| Total liabilities | £64.9m | £89.3m | £76.0m | £66.4m | £28.8m | £32.5m | £45.5m | £59.2m | £59.2m | £44.1m |
| Debt | £57.4m | £80.1m | £66.5m | £56.8m | £19.2m | £21.9m | £33.2m | £48.5m | £50.4m | £32.0m |
| Shareholders' equity | £402.5m | £402.7m | £399.6m | £390.7m | £393.5m | £394.9m | £379.6m | £366.9m | £354.5m | £336.3m |
| Shares outstanding | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £43.6m | £1.9m | £9.7m | −£8.2m | £30.4m | £23.9m | £28.3m | £14.1m | −£2.8m | £22.4m |
| Capital spending | −£43.6m | — | — | — | — | −£24,000 | −£24,000 | −£24,000 | −£4,000 | −£1,000 |
| Free cash flow | — | £1.9m | £9.7m | −£8.2m | £30.4m | £23.9m | £28.3m | £14.0m | −£2.8m | £22.4m |
| Dividends paid | −£20.5m | −£20.5m | −£19.5m | −£29.2m | −£28.3m | −£15.6m | −£15.6m | −£15.6m | −£11.7m | −£11.7m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £34.0m | £37.9m | £34.7m | £37.4m | £40.2m | £39.2m | £19.6m | £36.4m |
| Gross profit | £17.9m | £20.6m | £19.1m | £23.1m | £24.2m | £24.2m | £12.1m | £19.3m |
| Operating income | £14.0m | £17.8m | £15.1m | £20.5m | £20.1m | £14.9m | £10.0m | £11.7m |
| Net income | £8.7m | £11.7m | £9.9m | £13.6m | £13.5m | £3.9m | £7.5m | £3.9m |
| Diluted earnings per share | 2.23 | 2.99 | 2.55 | 3.48 | 3.46 | 1.00 | 1.91 | 1.00 |
| Cash from operations | £19.0m | £24.0m | £3.0m | −£1.0m | £8.0m | £1.0m | — | −£4.0m |
| Capital spending | −£19.0m | — | −£3.0m | — | — | — | — | — |
| Free cash flow | £0 | — | £0 | — | — | — | — | — |
| Total assets | £467.5m | £478.4m | £491.9m | £487.9m | £475.6m | £473.6m | £473.6m | £457.1m |
| Cash and short-term investments | £920,000 | £863,000 | £524,000 | £929,000 | £739,000 | £1.9m | £1.9m | £776,000 |
| Debt | £57.4m | £66.8m | £80.1m | £77.3m | £66.5m | £66.2m | £66.2m | £56.8m |
| Shareholders' equity | £402.5m | £403.6m | £402.7m | £402.5m | £399.6m | £395.9m | £395.9m | £390.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.8% | 1.8% | -1.0% |
| Operating income | -2.2% | -3.2% | -4.0% |
| Net income | -8.4% | -8.0% | -6.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 56.0% | 57.1% | 59.2% | 61.5% |
| Operating margin | 47.3% | 48.3% | 50.3% | 53.2% |
| Net margin | 30.5% | 33.2% | 36.5% | 40.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.5 | 15.0 | 12.2 | 15.2 | 18.1 | 18.1 | 17.4 | 16.4 | 12.4 | 12.1 |
| Price to sales | 4.7 | 4.9 | 4.3 | 5.5 | 7.4 | 8.5 | 7.6 | 7.0 | 5.3 | 5.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 9 Jul 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.75 | 5.25 | 5.25 | 5.00 | 5.00 | 9.50 | 4.00 | 4.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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