R 
97.50p
+3.17%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£132.0m
FY2017FY2026
Net income
£12.1m
FY2017FY2026
Free cash flow
£18.5m
FY2017FY2026
Shareholders' equity
£64.8m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £132.0m | £135.1m | £163.2m | £141.7m | £93.3m | £91.4m | £87.5m | £93.3m | £100.0m | £104.6m |
| Operating income | £11.8m | £8.4m | £852,000 | −£867,000 | £8.4m | £12.8m | −£8.7m | −£285,000 | £940,000 | £2.5m |
| Net income | £12.1m | £3.5m | −£3.4m | −£9.3m | £6.9m | £9.0m | −£10.6m | −£2.0m | £511,000 | −£2.4m |
| Diluted earnings per share | 0.08 | 0.43 | -0.42 | -1.18 | 0.04 | 1.13 | -1.37 | -0.26 | 0.07 | -0.31 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £196.7m | £173.4m | £184.5m | £195.4m | £122.6m | £122.6m | £141.6m | £123.7m | £135.6m | £141.5m |
| Cash and short-term investments | £4.7m | £3.0m | £3.1m | £1.4m | £1.8m | £5.3m | £3.7m | £7.2m | £6.1m | £4.3m |
| Total liabilities | £131.9m | £120.0m | £130.0m | £137.2m | £50.7m | £50.5m | £81.8m | £48.1m | £57.7m | £64.8m |
| Debt | £43.4m | £45.5m | £75.5m | £74.3m | £18.4m | £20.8m | £38.3m | £24.8m | £33.8m | £43.9m |
| Shareholders' equity | £64.8m | £53.5m | £54.5m | £58.2m | £71.8m | £72.1m | £59.8m | £75.6m | £77.9m | £76.7m |
| Shares outstanding | 159m | 8m | 8m | 8m | 158m | 8m | 8m | 8m | 8m | 8m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £25.2m | £29.8m | £23.0m | £14.2m | £17.4m | £17.4m | £18.2m | £17.7m | £19.9m | £6.4m |
| Capital spending | −£6.7m | −£9.7m | −£10.7m | −£6.4m | −£2.8m | −£2.9m | −£4.2m | −£4.7m | −£6.8m | −£6.7m |
| Free cash flow | £18.5m | £20.1m | £12.2m | £7.8m | £14.6m | £14.5m | £13.9m | £13.1m | £13.1m | −£390,000 |
| Dividends paid | −£1.9m | −£5.7m | −£1.4m | −£5.6m | −£5.6m | −£1.9m | −£2.7m | −£597,000 | −£597,000 | −£4.4m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £65.2m | £66.8m | £48.4m | £86.8m | £81.2m | £82.0m | £41.0m | £80.1m |
| Operating income | £1.2m | £4.9m | £2.1m | £6.4m | £1.4m | £1.9m | −£407,000 | −£10.7m |
| Net income | £9.3m | £2.8m | −£347,000 | £3.8m | −£3.2m | −£214,000 | −£107,000 | −£12.8m |
| Diluted earnings per share | 0.06 | 0.35 | -0.04 | 0.47 | -0.40 | -0.03 | -0.00 | -1.64 |
| Cash from operations | £14.0m | £8.0m | £14.0m | £15.0m | £14.0m | £8.0m | — | £16.0m |
| Capital spending | −£2.0m | −£4.0m | −£6.0m | −£4.0m | −£4.0m | −£6.0m | — | −£4.0m |
| Free cash flow | £12.0m | £4.0m | £8.0m | £11.0m | £10.0m | £2.0m | — | £12.0m |
| Total assets | £196.7m | £179.9m | £179.5m | £181.0m | £184.5m | £187.6m | £187.6m | £195.4m |
| Cash and short-term investments | £4.7m | £4.1m | £3.0m | £4.0m | £3.1m | £2.1m | £2.1m | £1.4m |
| Debt | £42.4m | £43.8m | £43.8m | £51.4m | £52.4m | £49.6m | £65.9m | £44.9m |
| Shareholders' equity | £64.8m | £54.3m | £53.5m | £56.8m | £54.5m | £58.4m | £58.4m | £58.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.3% | 7.6% | 2.6% |
| Operating income | — | -1.6% | — |
| Net income | — | 6.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 7.6% | 3.5% | 5.5% | 2.5% |
| Net margin | 5.8% | 0.5% | 2.5% | 0.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.6 | 2.8 | -3.0 | -1.1 | 29.6 | 1.1 | -0.9 | -3.9 | 11.2 | -3.0 |
| Price to sales | 1.2 | 0.1 | 0.1 | 0.1 | 2.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 13 Mar 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.036 | 0.036 | 0.036 | 0.036 | 0.012 | 0.018 | 0.004 | 0.03 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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