N 
296.00p
+0.68%
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
£393.4m
FY2017FY2026
Net income
£300,000
FY2017FY2026
Free cash flow
£25.5m
FY2017FY2026
Shareholders' equity
£198.1m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £393.4m | £368.1m | £392.1m | £441.0m | £396.3m | £324.2m | £342.0m | £331.0m | £300.1m | £271.2m |
| Gross profit | £182.5m | £160.1m | £165.0m | £169.3m | £140.8m | £118.4m | £124.5m | £124.2m | £109.7m | £99.5m |
| Research and development | £4.0m | — | £5.3m | £5.5m | £4.8m | £3.6m | £4.1m | £4.1m | £4.0m | £4.1m |
| Operating income | £37.4m | £8.3m | £39.9m | £38.7m | £36.4m | £28.7m | £27.1m | £23.8m | £18.0m | £14.8m |
| Net income | £300,000 | £3.5m | £26.8m | £16.8m | £25.7m | £15.0m | £10.9m | £19.4m | £9.9m | £8.5m |
| Diluted earnings per share | 0.00 | 0.04 | 0.30 | 0.19 | 0.28 | 0.18 | 0.13 | 0.24 | 0.12 | 0.13 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £444.6m | £388.0m | £425.3m | £446.2m | £359.5m | £312.2m | £344.5m | £307.5m | £313.0m | £264.1m |
| Cash and short-term investments | £32.2m | £22.7m | £30.8m | £29.0m | £27.4m | £28.3m | £47.3m | £27.2m | £25.8m | £37.5m |
| Total liabilities | £246.5m | £180.1m | £202.9m | £235.8m | £159.2m | £163.8m | £240.1m | £181.8m | £208.4m | £207.5m |
| Debt | £128.9m | £80.1m | £90.3m | £103.6m | £42.8m | £42.0m | £108.8m | £62.2m | £72.9m | £60.7m |
| Shareholders' equity | £198.1m | £207.9m | £222.4m | £210.4m | £200.3m | £148.4m | £104.4m | £125.7m | £104.6m | £56.6m |
| Shares outstanding | 91m | 90m | 89m | 91m | 90m | 82m | 81m | 81m | 81m | 63m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £32.3m | £18.5m | £36.6m | £24.5m | £14.6m | £53.3m | £26.0m | £28.9m | £17.5m | £22.7m |
| Capital spending | −£6.8m | −£6.9m | −£7.3m | −£6.0m | −£5.4m | −£2.8m | −£4.8m | −£5.6m | −£7.7m | −£8.0m |
| Free cash flow | £25.5m | £11.6m | £29.3m | £18.5m | £9.2m | £50.5m | £21.2m | £23.3m | £9.8m | £14.7m |
| Dividends paid | −£9.5m | −£9.2m | −£9.1m | −£9.2m | −£9.1m | −£7.0m | −£7.0m | −£6.4m | −£5.0m | −£4.2m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £209.1m | £184.3m | £179.7m | £188.4m | £190.5m | £201.6m | £100.8m | £221.1m |
| Gross profit | £209.1m | £184.3m | £179.7m | £188.4m | £182.6m | £201.6m | £100.8m | −£50.6m |
| Operating income | £7.9m | £14.3m | £16.9m | −£8.6m | £24.6m | £15.3m | £8.6m | £11.4m |
| Net income | −£200,000 | £500,000 | £12.1m | −£8.6m | £17.5m | £9.3m | £4.7m | £5.8m |
| Diluted earnings per share | -0.00 | 0.01 | 0.13 | -0.10 | 0.20 | 0.10 | 0.05 | 0.06 |
| Cash from operations | £18.0m | £13.0m | £13.0m | £5.0m | £18.0m | £17.0m | — | £9.0m |
| Capital spending | −£4.0m | −£2.0m | −£2.0m | −£4.0m | −£3.0m | −£4.0m | — | −£1.0m |
| Free cash flow | £14.0m | £11.0m | £11.0m | £1.0m | £15.0m | £13.0m | — | £8.0m |
| Total assets | £444.6m | £377.5m | £388.0m | £406.2m | £425.3m | £430.4m | £430.4m | £446.2m |
| Cash and short-term investments | £32.2m | £27.0m | £22.7m | £21.4m | £30.8m | £32.6m | £32.6m | £29.0m |
| Debt | £106.2m | £70.3m | £66.0m | £72.7m | £74.4m | £85.5m | £95.2m | £85.0m |
| Shareholders' equity | £198.1m | £202.5m | £207.9m | £207.2m | £222.4m | £211.5m | £211.5m | £210.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.7% | 3.9% | 5.2% |
| Operating income | -1.1% | 5.4% | 9.6% |
| Net income | -73.9% | -54.3% | -31.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 45.0% | 42.4% | 40.4% | 37.3% |
| Operating margin | 6.0% | 7.8% | 8.2% | 7.6% |
| Net margin | 0.5% | 3.0% | 3.8% | 3.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | 86.0 | 8.6 | 10.3 | 6.3 | 17.2 | 15.0 | 11.7 | 15.6 | 13.4 |
| Price to sales | 0.7 | 0.8 | 0.6 | 0.4 | 0.4 | 0.8 | 0.5 | 0.7 | 0.5 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 25 Jun 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.076 | 0.106 | 0.103 | 0.102 | 0.103 | 0.113 | 0.087 | 0.08 |
- 10-to-1 reverse split · 30 Sept 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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