P 
4.15p
0.00%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£248.1m
FY2016FY2026
Net income
−£14.8m
FY2016FY2026
Free cash flow
−£20.3m
FY2016FY2026
Shareholders' equity
£32.6m
FY2016FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £248.1m | £303.2m | £349.1m | £332.8m | £303.3m | £250.1m | £328.0m | £322.8m | £304.0m | £342.4m |
| Operating income | −£4.3m | −£95,200 | £19.9m | £24.4m | £34.5m | −£4.7m | £16.8m | £11.2m | −£79.9m | −£2.7m |
| Net income | −£14.8m | −£103.8m | £4.2m | £20.5m | £53.7m | −£23.6m | £8.7m | −£4.4m | −£79.9m | −£17.3m |
| Diluted earnings per share | -0.02 | -0.15 | 0.01 | 0.03 | 0.08 | -0.10 | 0.04 | -0.03 | -0.47 | -0.11 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £163.0m | £274.1m | £429.2m | £432.5m | £409.6m | £487.0m | £377.0m | £438.6m | £429.5m | £484.9m |
| Cash and short-term investments | £13.8m | £23.9m | £31.9m | £47.7m | £42.3m | £97.6m | £22.7m | £17.8m | £2.2m | £15.2m |
| Total liabilities | £130.4m | £224.5m | £246.0m | £250.1m | £247.7m | £379.4m | £298.1m | £367.1m | £355.9m | £331.5m |
| Debt | £43.9m | £120.3m | £141.9m | £140.1m | £144.7m | £283.7m | £191.1m | £236.9m | £229.2m | £227.9m |
| Shareholders' equity | £32.6m | £49.6m | £183.2m | £182.5m | £161.9m | £107.6m | £79.0m | £71.5m | £73.6m | £153.4m |
| Shares outstanding | 799m | 713m | 728m | 725m | 705m | 240m | 245m | 170m | 170m | 155m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£16.7m | £47.9m | £20.2m | £39.0m | £44.2m | £34.1m | £22.2m | £19.8m | −£2.5m | £13.2m |
| Capital spending | −£3.6m | −£27.1m | −£10.1m | −£10.6m | −£6.7m | −£5.8m | −£6.7m | −£7.2m | −£7.3m | −£16.8m |
| Free cash flow | −£20.3m | £20.8m | £10.1m | £28.4m | £37.5m | £28.3m | £15.5m | £12.6m | −£9.7m | −£3.6m |
| Dividends paid | — | −£4.0m | −£3.9m | −£1.2m | — | — | — | — | — | −£1.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Sept 2025 | Mar 2025 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £112.5m | £112.5m | £135.6m | £208.2m | £170.8m | £170.8m | £170.1m | £172.8m |
| Operating income | −£11.2m | −£7.8m | £3.5m | £3.0m | £3.9m | £9.0m | £10.9m | £20.5m |
| Net income | −£7.6m | −£7.6m | −£7.2m | −£127.4m | −£2.4m | −£1.3m | £5.5m | £14.4m |
| Diluted earnings per share | -0.01 | -0.01 | -0.01 | -0.18 | -0.00 | -0.00 | 0.01 | 0.02 |
| Cash from operations | −£19.0m | −£19.0m | £2.0m | £13.0m | £25.0m | £14.0m | £15.0m | £37.0m |
| Capital spending | −£3.0m | −£3.0m | −£7.0m | −£3.0m | −£3.0m | −£4.0m | −£19.0m | −£17.0m |
| Free cash flow | −£22.0m | −£22.0m | −£5.0m | £10.0m | £22.0m | £10.0m | −£4.0m | £20.0m |
| Total assets | £163.0m | £163.0m | £231.7m | £274.1m | £401.9m | £429.2m | £433.0m | £432.5m |
| Cash and short-term investments | £13.8m | £13.8m | £18.9m | £23.9m | £38.2m | £31.9m | £36.6m | £47.7m |
| Debt | £42.0m | £42.0m | £60.8m | £102.9m | £17.9m | £20.1m | £20.9m | £17.4m |
| Shareholders' equity | £32.6m | £32.6m | £44.0m | £49.6m | £178.0m | £183.2m | £187.7m | £182.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.3% | -0.2% | -2.3% |
| Operating income | — | -1.5% | — |
| Net income | — | -8.9% | 0.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -0.8% | 3.2% | 3.9% | 0.6% |
| Net margin | -21.5% | -7.6% | -3.6% | -5.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.2 | -0.5 | 20.1 | 4.4 | 2.0 | -1.1 | 7.5 | -8.8 | -0.4 | -5.1 |
| Price to sales | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 | 0.1 | 0.2 | 0.1 | 0.1 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 3 Oct 2024.
| FY2025 | FY2023 | FY2022 | FY2016 | FY2015 | |
|---|---|---|---|---|---|
| Paid in the year | 0.006 | 0.006 | 0.002 | 0.008 | 0.004 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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