N 
438.00p
+0.69%
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
£90.7m
FY2016FY2025
Free cash flow
£14.5m
FY2016FY2025
Shareholders' equity
£467.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | £93.7m | −£5.8m | £45.2m | £96.7m | −£20.9m | £27.1m | £21.2m | £28.2m | £122.9m | £8.0m |
| Operating income | £93.0m | −£6.7m | £44.4m | £96.0m | −£21.6m | £26.4m | £20.4m | £27.5m | £122.3m | £7.4m |
| Net income | £90.7m | −£9.2m | £41.8m | £93.9m | −£24.1m | £24.3m | £18.4m | £25.7m | £120.6m | £5.8m |
| Diluted earnings per share | 0.69 | -0.07 | 0.30 | 0.66 | -0.17 | 0.17 | 0.13 | 0.18 | 0.83 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £513.7m | £477.2m | £516.3m | £490.6m | £416.1m | £434.5m | £442.8m | £426.8m | £426.9m | £325.4m |
| Cash and short-term investments | £5.3m | £21.3m | £26.7m | £13.9m | £9.2m | £21.9m | £18.6m | £19.6m | £12.6m | £11.7m |
| Total liabilities | £45.9m | £40.7m | £43.4m | £42.1m | £40.7m | £20.6m | £44.2m | £35.2m | £47.8m | £44.8m |
| Debt | £40.2m | £39.2m | £40.5m | £37.2m | £36.3m | £19.0m | £38.0m | £31.6m | £40.6m | £43.0m |
| Shareholders' equity | £467.8m | £436.5m | £472.9m | £448.5m | £375.4m | £413.9m | £398.7m | £391.6m | £379.1m | £280.6m |
| Shares outstanding | 131m | 139m | 140m | 142m | 143m | 142m | 142m | 143m | 145m | 157m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £14.5m | £14.7m | £15.4m | £12.1m | £15.6m | £14.4m | £11.3m | £10.2m | £10.6m | £10.2m |
| Free cash flow | £14.5m | £14.7m | £15.4m | £12.1m | £15.6m | £14.4m | £11.3m | £10.2m | £10.6m | £10.2m |
| Dividends paid | −£15.7m | −£19.3m | −£16.1m | −£14.5m | −£13.9m | −£12.4m | −£11.4m | −£10.6m | −£9.9m | −£9.9m |
Latest quarters
By quarter end
| Jul 2026 | Jan 2026 | Jul 2025 | Jan 2025 | Jul 2024 | Apr 2024 | Jan 2024 | Oct 2023 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | £63.0m | £42.8m | −£5.7m | £49.4m | £44.9m | £24.0m | £13.7m | £6.9m |
| Operating income | £62.5m | £42.4m | −£7.3m | £49.0m | £46.4m | £23.2m | £11.8m | £5.9m |
| Net income | £60.1m | £41.8m | −£7.0m | £45.9m | £44.9m | £22.4m | £9.7m | £4.8m |
| Diluted earnings per share | 0.52 | 0.36 | -0.05 | 0.35 | 0.33 | 0.17 | 0.07 | 0.03 |
| Cash from operations | £8.0m | £6.0m | £6.0m | £8.0m | £6.0m | £3.0m | £6.0m | £3.0m |
| Total assets | £553.8m | £505.6m | £479.7m | £513.7m | £494.7m | £494.7m | £477.2m | £477.2m |
| Cash and short-term investments | £9.2m | £12.8m | £7.4m | £5.3m | £6.7m | £6.7m | £21.3m | £21.3m |
| Debt | — | — | £3.5m | — | — | — | — | — |
| Shareholders' equity | £509.7m | £458.3m | £438.0m | £467.8m | £455.2m | £455.2m | £436.5m | £436.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.0% | 25.6% | 5.8% |
| Operating income | -1.1% | 28.6% | 6.0% |
| Net income | -1.1% | 30.2% | 6.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 91.4% | 93.2% | 90.7% | 91.7% |
| Operating margin | 89.8% | 91.9% | 89.0% | 90.2% |
| Net margin | 84.8% | 88.1% | 83.6% | 85.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.3 | -49.6 | 9.7 | 4.6 | -16.7 | 14.3 | 23.5 | 13.8 | 3.2 | 68.5 |
| Price to sales | 4.9 | -292.0 | 8.2 | 4.3 | -22.7 | 11.1 | 17.0 | 11.0 | 3.0 | 35.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 1 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.125 | 0.12 | 0.113 | 0.115 | 0.108 | 0.098 | 0.088 | 0.081 |
- 5-for-1 split · 10 Jun 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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