Q 
190.20p
+1.17%
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
£120.0m
FY2016FY2025
Total assets
£76.54bn
FY2016FY2025
Shareholders' equity
£1.47bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | — | £2.0m | £2.0m | £2.0m | £2.0m | £2.0m | £2.0m | £4.0m | £2.0m | — |
| Operating income | £344.0m | £29.0m | £716.0m | £85.0m | £97.0m | £99.0m | £120.0m | −£34.0m | £91.0m | £93.0m |
| Net income | £120.0m | −£34.0m | £42.0m | £175.0m | £154.0m | £88.0m | £43.0m | £174.0m | £416.0m | £35.0m |
| Diluted earnings per share | 0.09 | -0.03 | 0.03 | 0.13 | 0.11 | 0.06 | 0.03 | 0.11 | 0.26 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £76.54bn | £62.45bn | £53.34bn | £46.42bn | £50.74bn | £67.37bn | £63.74bn | £65.79bn | £72.12bn | £65.48bn |
| Cash and short-term investments | £2.15bn | £60.94bn | £51.86bn | £45.13bn | £49.34bn | £1.61bn | £2.47bn | £2.41bn | £2.97bn | £1.06bn |
| Total liabilities | £75.08bn | £61.02bn | £51.83bn | £44.87bn | £49.00bn | £65.49bn | £61.67bn | £63.78bn | £70.05bn | £64.49bn |
| Debt | £271.0m | £275.0m | £279.0m | £290.0m | £299.0m | £319.0m | £335.0m | £197.0m | £200.0m | £839.0m |
| Shareholders' equity | £1.47bn | £1.42bn | £1.52bn | £1.55bn | £1.74bn | £1.88bn | £2.07bn | £2.00bn | £2.07bn | £992.0m |
| Shares outstanding | 1,353m | 1,343m | 1,376m | 1,346m | 1,432m | 1,508m | 1,606m | 1,630m | 1,631m | 1,631m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | £232.0m | £261.0m | £494.0m | −£30.0m | £470.0m | £677.0m | £39.0m | £34.0m |
| Net income | £45.0m | £74.0m | £46.0m | −£47.0m | £13.0m | £37.0m | £5.0m | £24.0m |
| Diluted earnings per share | 0.03 | 0.05 | 0.03 | -0.03 | 0.01 | 0.03 | 0.00 | 0.02 |
| Total assets | £87.74bn | £76.54bn | £67.78bn | £62.45bn | £58.08bn | £53.34bn | £48.61bn | £46.42bn |
| Cash and short-term investments | £2.32bn | £2.15bn | £66.34bn | £60.94bn | £1.53bn | £51.86bn | £1.80bn | £1.78bn |
| Debt | — | £205.0m | — | £204.0m | £277.0m | £204.0m | — | £209.0m |
| Shareholders' equity | £1.37bn | £1.47bn | £1.41bn | £1.42bn | £1.48bn | £1.52bn | £1.50bn | £1.55bn |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 3.7% | 1.0% | 2.4% | -2.1% | 2.1% | 2.9% | — |
| Net margin | 1.3% | -0.6% | 0.9% | -4.3% | 3.3% | 2.5% | — |
| Return on equity | 8.2% | -2.4% | 2.8% | 11.3% | 8.9% | 4.7% | — |
| Return on assets | 0.2% | -0.1% | 0.1% | 0.4% | 0.3% | 0.1% | — |
| Revenue growth | 72.8% | 17.2% | -214.5% | -186.2% | 35.4% | 200.7% | — |
| Earnings growth | -452.9% | -181.0% | -76.0% | 13.6% | 75.0% | 104.7% | — |
| Current ratio | 3.92x | 120.65x | 91.61x | 1.18x | 1.20x | 1.14x | — |
| Debt to equity | 0.14x | 0.14x | 0.13x | 0.14x | 0.12x | 0.11x | — |
| Equity ratio | 1.9% | 2.3% | 2.8% | 3.3% | 3.4% | 2.8% | — |
| Interest coverage | 16.43x | 2.67x | 5.05x | 6.54x | 6.93x | 7.07x | — |
| R&D as a share of sales | — | 0.0% | 0.0% | -0.0% | 0.0% | 0.1% | 0.2% |
| Buybacks as a share of market value | -0.7% | 2.4% | -2.2% | 6.0% | 5.1% | 6.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | 22.0% | 16.0% |
| Operating income | 59.4% | 28.3% | 10.3% |
| Net income | -11.8% | 6.4% | 3.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 2.5% | 7.6% | 5.8% | 4.7% |
| Net margin | 0.6% | 2.0% | 2.3% | 3.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 20.6 | -60.9 | 33.7 | 7.2 | 16.1 | 26.3 | 60.2 | 11.1 |
| Price to sales | 0.3 | 0.4 | 0.3 | -0.3 | 0.5 | 0.7 | 2.3 | -0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 27 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.064 | 0.062 | 0.074 | 0.048 | 0.258 | 0.062 | 0.053 | 0.058 |
- 7-to-6 reverse split · 23 May 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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