M 
1,006.00p
+0.60%
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.
Net income
£132.7m
FY2017FY2026
Free cash flow
—
FY2017FY2026
Shareholders' equity
£969.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | — | — | — | £1 | £0 | £3 | £1 | £1 | £1 | £2 |
| Operating income | £135.3m | £25.1m | £195.2m | £76.3m | −£44.5m | £163.3m | −£30.6m | £44.0m | £22.5m | £89.9m |
| Net income | £132.7m | £22.9m | £94.8m | £73.5m | −£41.1m | £161.2m | −£29.8m | £42.6m | £21.1m | £89.0m |
| Diluted earnings per share | 1.42 | 0.23 | 0.92 | 0.67 | -0.35 | 1.38 | -0.38 | 0.64 | 0.32 | 1.33 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.08bn | £1.03bn | £1.11bn | £1.12bn | £1.13bn | £1.22bn | £582.4m | £637.8m | £619.8m | £624.5m |
| Cash and short-term investments | £22.6m | £10.4m | £25.1m | £15.1m | £20.1m | £4.5m | £16.4m | £27.2m | £22.0m | £25.8m |
| Total liabilities | £109.1m | £116.8m | £120.9m | £121.5m | £118.7m | £121.3m | £48.1m | £50.6m | £48.9m | £48.0m |
| Debt | £104.4m | £112.1m | £113.9m | £115.5m | £117.2m | £118.5m | £46.6m | £46.5m | £46.2m | £47.1m |
| Shareholders' equity | £969.2m | £916.7m | £990.3m | £999.2m | £1.01bn | £1.09bn | £534.4m | £587.1m | £570.9m | £576.5m |
| Shares outstanding | 93m | 97m | 103m | 110m | 116m | 117m | 79m | 66m | 66m | 67m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £36.9m | £35.5m | £32.0m | £37.9m | £36.4m | £25.6m | £17.7m | £20.3m | £20.8m | £24.6m |
| Capital spending | −£36.9m | — | — | — | −£60.4m | −£48.4m | — | — | — | — |
| Free cash flow | — | £35.5m | £32.0m | £37.9m | −£24.0m | −£22.8m | £17.7m | £20.3m | £20.8m | £24.6m |
| Dividends paid | −£38.5m | −£39.0m | −£44.7m | −£41.4m | −£40.3m | −£28.6m | −£23.0m | −£22.0m | −£23.9m | −£26.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | £60.2m | £75.1m | £46.4m | −£21.3m | £50.1m | £47.5m | £23.8m | £36.0m |
| Net income | £58.9m | £73.7m | £45.0m | −£22.1m | £48.8m | £46.0m | £23.0m | £34.0m |
| Diluted earnings per share | 0.63 | 0.76 | 0.46 | -0.21 | 0.47 | 0.42 | 0.21 | 0.31 |
| Cash from operations | £22.0m | £14.0m | £19.0m | £15.0m | £18.0m | £13.0m | £6.0m | £9.0m |
| Capital spending | −£22.0m | — | — | — | — | — | — | — |
| Free cash flow | £0 | — | — | — | — | — | — | — |
| Total assets | £1.08bn | £1.06bn | £1.03bn | £1.04bn | £1.11bn | £1.11bn | £1.11bn | £1.12bn |
| Cash and short-term investments | £22.6m | £53.1m | £10.4m | £14.0m | £25.1m | £24.6m | £24.6m | £15.1m |
| Debt | — | — | £6.1m | £6.2m | £6.3m | £6.5m | £6.5m | £6.4m |
| Shareholders' equity | £969.2m | £948.8m | £916.7m | £923.0m | £990.3m | £990.2m | £990.2m | £999.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 52.1% | 25.0% | 21.0% |
| Operating income | 21.0% | -3.7% | 17.0% |
| Net income | 21.8% | -3.8% | 17.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 72.3% | 128.2% | 151.1% | 135.0% |
| Net margin | 70.1% | 96.1% | 121.8% | 113.7% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 7.2 | 38.9 | 8.9 | 12.9 | -23.9 | 6.7 | -21.9 | 13.9 | 22.9 | 6.0 |
| Price to sales | 4.9 | 29.9 | 14.0 | 17.4 | -27.7 | 17.0 | -23.1 | 13.5 | 21.2 | 5.9 |
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 | 0.125 | 0.40 | 0.385 | 0.413 | 0.36 | 0.345 | 0.343 | 0.248 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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