N 
46.80p
+2.86%
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
£40.0m
FY2016FY2025
Net income
£3.3m
FY2016FY2025
Free cash flow
£6.5m
FY2016FY2025
Shareholders' equity
£22.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £40.0m | £38.8m | £42.2m | £41.4m | £38.9m | £40.9m | £51.3m | £49.0m | £51.9m | £49.4m |
| Gross profit | £19.9m | £18.4m | £18.7m | £16.2m | £15.9m | £17.3m | £22.4m | £24.7m | £26.7m | £28.6m |
| Research and development | — | — | — | — | — | — | £85,000 | £20,000 | £20,000 | £20,000 |
| Operating income | £7.3m | £3.9m | £4.1m | £4.8m | £4.2m | £4.3m | £3.0m | £9.8m | £12.6m | £15.6m |
| Net income | £3.3m | −£39.3m | £384,000 | £385,000 | £156,000 | −£225,000 | −£3.0m | £6.7m | £9.9m | £12.2m |
| Diluted earnings per share | 0.07 | -0.83 | 0.01 | 0.01 | 0.00 | -0.00 | -0.06 | 0.14 | 0.22 | 0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £46.1m | £47.9m | £91.9m | £96.2m | £97.9m | £101.1m | £101.6m | £97.5m | £91.0m | £84.3m |
| Cash and short-term investments | £1.5m | £1.9m | £2.0m | £2.7m | £2.5m | £3.6m | £2.6m | £1.6m | £858,000 | £4.8m |
| Total liabilities | £23.5m | £28.8m | £33.9m | £38.9m | £41.2m | £45.0m | £42.5m | £34.9m | £29.2m | £24.5m |
| Debt | £5.9m | £10.4m | £13.4m | £17.9m | £20.1m | £22.3m | £23.8m | £17.1m | £12.9m | £11.1m |
| Shareholders' equity | £22.6m | £19.1m | £58.1m | £57.3m | £56.6m | £56.1m | £55.8m | £61.7m | £61.7m | £59.8m |
| Shares outstanding | 48m | 47m | 52m | 46m | 46m | 46m | 46m | 46m | 46m | 46m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £6.6m | £5.1m | £7.5m | £6.0m | £5.1m | £11.0m | £1.5m | £4.5m | £2.8m | £9.3m |
| Capital spending | −£58,000 | −£189,000 | −£309,000 | −£282,000 | −£620,000 | −£1.1m | −£682,000 | −£145,000 | −£111,000 | −£232,000 |
| Free cash flow | £6.5m | £4.9m | £7.2m | £5.7m | £4.5m | £9.9m | £860,000 | £4.3m | £2.7m | £9.0m |
| Dividends paid | — | — | — | — | — | — | −£3.8m | −£6.4m | −£8.2m | −£8.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £18.3m | £20.8m | £19.2m | £19.4m | £19.4m | £21.2m | £21.0m | £20.7m |
| Gross profit | £9.8m | £10.7m | £9.6m | £8.5m | £9.1m | £9.8m | £8.1m | £8.3m |
| Operating income | £3.4m | £4.1m | £3.0m | £2.1m | £1.8m | £2.3m | £1.8m | £2.5m |
| Net income | £1.8m | £1.8m | £1.4m | −£39.6m | £333,000 | £472,000 | −£88,000 | £383,000 |
| Diluted earnings per share | 0.04 | 0.04 | 0.03 | -0.84 | 0.01 | 0.01 | -0.00 | 0.01 |
| Cash from operations | £3.0m | £3.0m | £2.0m | £3.0m | £1.0m | £3.0m | £4.0m | £2.0m |
| Total assets | £47.9m | £46.1m | £47.2m | £47.9m | £91.4m | £91.9m | £93.3m | £96.2m |
| Cash and short-term investments | £3.2m | £1.5m | £1.6m | £1.9m | £2.2m | £2.0m | £2.4m | £2.7m |
| Debt | £4.5m | £5.0m | £7.4m | £9.2m | £11.4m | £12.0m | £14.2m | £16.2m |
| Shareholders' equity | £24.5m | £22.6m | £20.7m | £19.1m | £58.6m | £58.1m | £57.4m | £57.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.1% | -0.4% | -2.3% |
| Operating income | 15.3% | 11.1% | -6.7% |
| Net income | 103.8% | — | -11.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 48.5% | 45.0% | 43.9% | 47.3% |
| Operating margin | 14.3% | 12.4% | 11.8% | 17.0% |
| Net margin | -45.7% | -21.7% | -14.6% | 0.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.2 | -0.9 | 84.3 | 42.1 | 156.8 | -93.5 | -9.6 | 4.3 | 4.5 | 2.9 |
| Price to sales | 0.4 | 0.9 | 0.8 | 0.4 | 0.6 | 0.5 | 0.6 | 0.6 | 0.8 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Sept 2019.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.083 | 0.138 | 0.18 | 0.189 | 0.188 | 0.056 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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