P 
203.60p
+0.99%
Close of 9 Nov 2026, in pence
Search any instrument
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
£1.18bn
FY2017FY2026
Net income
£136.6m
FY2017FY2026
Free cash flow
£134.1m
FY2017FY2026
Shareholders' equity
£1.41bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £1.18bn | £1.15bn | £1.14bn | £1.01bn | £900.5m | £947.0m | £847.1m | £824.3m | £819.2m | £790.4m |
| Gross profit | £428.0m | £413.0m | £406.5m | £358.2m | £300.1m | £304.9m | £268.1m | £247.3m | £235.4m | £239.0m |
| Research and development | £9.2m | £9.5m | £9.2m | £8.5m | £7.8m | £7.2m | £7.2m | £6.9m | £6.3m | £7.7m |
| Operating income | £207.4m | £187.1m | £190.2m | £132.2m | £128.5m | £130.1m | £101.1m | £93.4m | £84.5m | £78.1m |
| Net income | £136.6m | £124.9m | £112.5m | £91.6m | £77.5m | £106.0m | £46.5m | −£33.8m | £7.2m | £5.5m |
| Diluted earnings per share | 0.15 | 0.14 | 0.13 | 0.10 | 0.09 | 0.12 | 0.05 | -0.04 | 0.01 | 0.01 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £2.22bn | £2.25bn | £2.33bn | £2.41bn | £2.53bn | £2.27bn | £3.03bn | £2.23bn | £2.19bn | £2.07bn |
| Cash and short-term investments | £242.1m | £191.5m | £102.3m | £64.4m | £54.3m | £4.2m | £177.9m | £27.8m | £23.6m | £3.1m |
| Total liabilities | £814.3m | £809.7m | £1.01bn | £999.9m | £1.03bn | £1.09bn | £1.35bn | £1.27bn | £1.24bn | £1.27bn |
| Debt | £339.2m | £335.1m | £337.9m | £338.7m | £339.3m | £336.9m | £607.5m | £497.7m | £520.0m | £526.3m |
| Shareholders' equity | £1.41bn | £1.44bn | £1.33bn | £1.41bn | £1.51bn | £1.18bn | £1.68bn | £962.8m | £949.3m | £792.8m |
| Shares outstanding | 882m | 882m | 886m | 882m | 882m | 875m | 865m | 857m | 846m | 843m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £186.0m | £158.1m | £121.7m | £87.2m | £90.1m | £85.6m | £85.9m | £57.7m | £52.4m | £37.0m |
| Capital spending | −£51.9m | −£41.4m | −£32.8m | −£20.0m | −£23.2m | −£23.6m | −£12.8m | −£14.3m | −£15.8m | −£15.1m |
| Free cash flow | £134.1m | £116.7m | £88.9m | £67.2m | £66.9m | £62.0m | £73.1m | £43.4m | £36.6m | £21.9m |
| Dividends paid | −£24.2m | −£14.9m | −£12.4m | −£10.3m | −£8.5m | — | — | — | — | −£42.0m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £673.4m | £502.1m | £648.0m | £324.0m | £501.0m | £250.5m | £643.4m | £321.7m |
| Gross profit | £260.7m | £180.6m | £243.7m | £128.6m | £169.3m | £91.1m | £246.2m | £123.1m |
| Operating income | £136.8m | £73.2m | £118.4m | £57.8m | £68.7m | £32.7m | £108.7m | £54.3m |
| Net income | £89.8m | £46.8m | £85.4m | £42.7m | £39.5m | £19.8m | £69.8m | £34.9m |
| Diluted earnings per share | 0.10 | 0.05 | 0.10 | 0.05 | 0.04 | 0.02 | 0.08 | 0.04 |
| Cash from operations | £153.0m | £32.0m | £107.0m | £53.0m | £50.0m | £25.0m | £86.0m | £43.0m |
| Capital spending | −£20.0m | −£19.0m | −£13.0m | −£6.0m | −£9.0m | −£9.0m | −£13.0m | −£6.0m |
| Free cash flow | £133.0m | £13.0m | £94.0m | £47.0m | £41.0m | £16.0m | £73.0m | £37.0m |
| Total assets | £2.22bn | £2.21bn | £2.25bn | £2.25bn | £2.43bn | £2.43bn | £2.33bn | £2.33bn |
| Cash and short-term investments | £242.1m | £127.4m | £191.5m | £191.5m | £113.9m | £113.9m | £102.3m | £102.3m |
| Debt | £330.2m | £333.4m | £327.1m | £1.9m | £325.3m | £1.0m | £328.4m | £2.7m |
| Shareholders' equity | £1.41bn | £1.39bn | £1.44bn | £1.44bn | £1.40bn | £1.40bn | £1.33bn | £1.33bn |
Financial ratios
Data as of 1 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 36.4% | 35.9% | 35.7% | 33.0% | 35.6% | 33.3% | — | — |
| Operating margin | 17.6% | 16.2% | 15.6% | 13.3% | 13.1% | 13.7% | — | — |
| Net margin | 11.6% | 10.9% | 9.9% | 9.1% | 9.1% | 8.6% | — | — |
| Return on equity | 9.7% | 8.7% | 8.5% | — | 6.5% | 5.1% | 9.0% | — |
| Return on assets | 6.1% | 5.5% | 4.8% | — | 3.8% | 3.1% | 4.7% | — |
| Free cash flow yield | 0.1% | 0.1% | 0.1% | — | — | 0.1% | 0.1% | 0.1% |
| Revenue growth | 2.3% | 1.0% | 13.0% | 0.0% | 11.8% | -4.9% | — | — |
| Earnings growth | 9.4% | 11.0% | 22.8% | 0.0% | 18.2% | -26.9% | — | — |
| Current ratio | 0.75x | 1.51x | 1.14x | — | 0.97x | 0.89x | 0.59x | — |
| Debt to equity | 0.23x | 0.23x | 0.25x | — | 0.23x | 0.22x | 0.27x | — |
| Equity ratio | 63.4% | 64.0% | 56.9% | — | 58.4% | 59.5% | 52.0% | — |
| Interest coverage | 8.42x | 7.40x | 6.82x | 6.18x | 6.09x | 5.91x | — | — |
| R&D as a share of sales | 0.8% | 0.8% | 0.8% | 0.8% | 0.8% | 0.9% | — | — |
| Buybacks as a share of market value | -0.0% | 0.4% | -0.4% | -0.0% | — | -0.7% | -1.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.3% | 4.4% | 4.3% |
| Operating income | 16.2% | 9.8% | 10.2% |
| Net income | 14.2% | 5.2% | 16.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 36.2% | 35.9% | 35.0% | 33.4% |
| Operating margin | 17.0% | 16.0% | 15.4% | 13.6% |
| Net margin | 11.2% | 10.4% | 10.3% | 6.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.3 | 12.2 | 14.8 | 13.1 | 12.3 | 9.2 | 18.6 | -9.6 | 38.8 | 65.5 |
| Price to sales | 1.5 | 1.3 | 1.5 | 1.2 | 1.1 | 1.0 | 1.0 | 0.4 | 0.3 | 0.5 |
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 | FY2008 | FY2007 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.034 | 0.028 | 0.017 | 0.014 | 0.012 | 0.01 | 0.244 | 0.761 |
- 10-to-1 reverse split · 4 May 2012
- 1-to-1 reverse split · 16 Mar 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.