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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
£50.3m
FY2016FY2025
Free cash flow
−£4.6m
FY2016FY2025
Shareholders' equity
£204.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | — | £1.5m | £1.5m | £1.2m | £1.0m | £800,000 | £600,000 | £500,000 | £800,000 | £700,000 |
| Operating income | −£3.5m | £9.2m | £9.2m | £7.0m | £122.2m | £12.5m | £18.8m | £67.6m | £73.0m | £96.0m |
| Net income | £50.3m | £37.9m | £37.9m | £45.5m | £61.5m | −£18.2m | −£148.9m | −£53.2m | £53.3m | £55.5m |
| Diluted earnings per share | 0.44 | 0.34 | 0.54 | 0.62 | 0.86 | -0.26 | -2.14 | -0.76 | 0.75 | 0.76 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £267.0m | £484.7m | £484.7m | £1.62bn | £1.53bn | £1.65bn | £2.00bn | £2.02bn | £2.06bn | £1.88bn |
| Cash and short-term investments | £34.1m | £47.4m | £47.4m | £171.9m | £200.1m | £56.0m | £55.7m | £51.4m | £53.3m | £84.0m |
| Total liabilities | £62.8m | £123.3m | £123.3m | £1.34bn | £1.30bn | £1.52bn | £1.83bn | £1.67bn | £1.64bn | £1.51bn |
| Debt | £1.5m | £94.2m | £94.2m | £413.1m | £471.9m | £399.6m | £437.1m | £179.0m | £177.4m | £175.7m |
| Shareholders' equity | £204.2m | £360.4m | £360.4m | £281.0m | £225.6m | £126.7m | £168.9m | £345.6m | £425.4m | £372.8m |
| Shares outstanding | 115m | 111m | 70m | 73m | 71m | 70m | 70m | 70m | 71m | 73m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £6.8m | £44.7m | £44.7m | £76.1m | £63.2m | £29.6m | £34.0m | £52.4m | £92.8m | £60.1m |
| Capital spending | −£11.4m | −£37.1m | −£37.1m | −£44.3m | −£18.6m | −£60.2m | −£115.0m | −£133.2m | −£193.0m | −£147.0m |
| Free cash flow | −£4.6m | £7.6m | £7.6m | £31.8m | £44.6m | −£30.6m | −£81.0m | −£80.8m | −£100.2m | −£86.9m |
| Dividends paid | — | — | — | — | — | — | −£9.7m | −£22.5m | −£21.3m | −£20.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jul 2024 | Jun 2024 | Jan 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | −£11.7m | −£6.2m | £2.7m | £4.1m | £4.0m | £4.0m | −£54.5m | −£54.5m |
| Net income | −£7.7m | £51.0m | −£700,000 | £1.2m | £5.0m | £5.0m | £11.0m | £11.0m |
| Diluted earnings per share | -0.07 | 0.44 | -0.01 | 0.01 | 0.04 | 0.04 | 0.10 | 0.16 |
| Cash from operations | £1.0m | −£1.0m | £8.0m | — | £9.0m | £9.0m | −£46.0m | −£46.0m |
| Capital spending | −£8.0m | −£6.0m | −£5.0m | −£3.0m | −£3.0m | −£3.0m | −£20.0m | −£20.0m |
| Free cash flow | −£7.0m | −£7.0m | £3.0m | — | £6.0m | £6.0m | −£66.0m | −£66.0m |
| Total assets | £261.9m | £267.0m | £101.2m | £61.8m | £56.3m | £56.3m | £484.7m | £484.7m |
| Cash and short-term investments | £23.9m | £34.1m | £30.3m | £9.3m | £13.0m | £13.0m | £47.4m | £47.4m |
| Debt | £800,000 | £900,000 | £1.0m | £700,000 | £900,000 | £700,000 | £93.4m | £93.4m |
| Shareholders' equity | £198.9m | £204.2m | £80.1m | £39.0m | £37.0m | £37.0m | £360.4m | £360.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 28.5% | -57.0% | -37.5% |
| Net income | 3.4% | — | -3.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 9.1% | 20.9% | 2.5% | 1.8% |
| Net margin | 139.8% | 163.8% | 3.4% | 0.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 8.2 | 10.5 | 4.8 | 2.5 | 2.1 | -4.0 | -0.5 | -2.4 | 3.0 | 3.3 |
| Price to sales | 10.2 | 17.7 | 8.0 | 5.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Apr 2024.
| FY2023 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.555 | 0.14 | 0.32 | 0.30 | 0.28 | 0.24 | 0.12 | 4.00 |
- 20-to-1 reverse split · 23 Apr 2024
- 5-for-1 split · 27 Dec 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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