M 
137.50p
-0.72%
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
£38.6m
FY2016FY2025
Free cash flow
£5.0m
FY2016FY2025
Shareholders' equity
£148.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | £38.6m | £18.7m | £4.9m | £2.0m | £16.9m | −£1.2m | −£27.0m | −£19.3m | £9.9m | −£16.9m |
| Operating income | £38.6m | £18.7m | £4.9m | £2.0m | £19.1m | −£1.2m | −£27.0m | −£15.5m | £9.9m | −£12.8m |
| Net income | £38.6m | £18.7m | £4.9m | £2.0m | £19.1m | −£1.2m | −£27.0m | −£15.5m | £9.9m | −£12.8m |
| Diluted earnings per share | 0.68 | 0.32 | 0.09 | 0.04 | 0.34 | -0.02 | -0.41 | -0.20 | 0.13 | -0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £148.6m | £115.0m | £101.4m | £102.4m | £105.4m | £97.7m | £105.1m | £147.3m | £169.1m | £168.8m |
| Cash and short-term investments | £143,497 | £140,042 | £133,986 | £129,145 | £128,554 | £128,614 | £128,372 | £127,827 | £127,557 | £127,582 |
| Total liabilities | £143,497 | £140,042 | £133,986 | £125,000 | £125,000 | £125,000 | £125,000 | £127,827 | £1.6m | £1.6m |
| Debt | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 |
| Shareholders' equity | £148.4m | £114.9m | £101.2m | £102.3m | £105.3m | £97.6m | £105.0m | £147.1m | £167.5m | £167.2m |
| Shares outstanding | 57m | 58m | 57m | 57m | 57m | 60m | 65m | 76m | 78m | 79m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £5.0m | £5.0m | £5.9m | £5.0m | £11.4m | £836,980 | £4.1m | £4.8m | £9.7m | £8.1m |
| Free cash flow | £5.0m | £5.0m | £5.9m | £5.0m | £11.4m | £836,980 | £4.1m | £4.8m | £9.7m | £8.1m |
| Dividends paid | −£5.0m | −£5.0m | −£5.0m | −£5.0m | −£5.1m | −£836,738 | −£4.1m | −£4.4m | −£5.8m | −£8.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | −£3.2m | £2.5m | £2.5m | £10.2m | £5.1m | £8.5m | £4.3m | £7.8m |
| Operating income | −£3.2m | £23.9m | £14.7m | £10.2m | £5.1m | £8.5m | £4.3m | £7.8m |
| Net income | −£3.2m | £23.9m | £14.7m | £10.2m | £5.1m | £8.5m | £4.3m | £7.8m |
| Diluted earnings per share | -0.06 | 0.42 | 0.26 | 0.18 | 0.09 | 0.15 | 0.07 | 0.14 |
| Cash from operations | £2.0m | £2.0m | £2.0m | £2.0m | £1.0m | £2.0m | £1.0m | £3.0m |
| Total assets | £142.8m | £148.6m | £127.2m | £115.0m | £115.0m | £107.4m | £107.4m | £101.4m |
| Cash and short-term investments | £144,967 | £143,497 | £141,806 | £140,042 | £140,042 | £137,414 | £137,414 | £133,986 |
| Debt | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 | £125,000 |
| Shareholders' equity | £142.7m | £148.4m | £127.1m | £114.9m | £114.9m | £107.2m | £107.2m | £101.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 166.1% | — | — |
| Operating income | 166.0% | — | — |
| Net income | 166.1% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | 100.0% | 28.7% |
| Operating margin | 100.0% | 100.0% | 102.7% | -146.7% |
| Net margin | 100.0% | 100.0% | 102.7% | -146.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 2.0 | 2.9 | 9.4 | 26.4 | 3.5 | -53.4 | -2.5 | -5.8 | 12.5 | -8.8 |
| Price to sales | 2.0 | 2.9 | 9.4 | 26.4 | 4.0 | -53.4 | -2.5 | -4.7 | 21.3 | -6.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 5 Feb 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.023 | 0.091 | 0.091 | 0.091 | 0.091 | 0.091 | 0.124 | 0.082 |
- 1-to-1 reverse split · 30 Nov 2021
- 1-to-1 reverse split · 30 Nov 2016
- 1-to-1 reverse split · 31 Jan 2014
- 1-to-1 reverse split · 2 Jan 2014
- 1-to-1 reverse split · 29 Nov 2013
- 1-to-1 reverse split · 31 Oct 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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