R 
2,440.00p
+0.41%
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
£305.0m
FY2015FY2024
Free cash flow
£89.7m
FY2015FY2024
Shareholders' equity
£3.73bn
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | £360.0m | £108.8m | −£533.3m | £916.6m | £547.1m | £373.7m | £57.2m | £249.5m | £330.8m | £219.0m |
| Operating income | £321.5m | £66.1m | −£576.9m | £862.2m | £503.7m | £343.7m | £28.6m | £220.9m | £301.9m | £188.7m |
| Net income | £305.0m | £66.1m | −£577.2m | £859.2m | £503.9m | £342.3m | £27.1m | £220.5m | £302.1m | £188.3m |
| Diluted earnings per share | 2.10 | 0.44 | -3.71 | 5.46 | 3.21 | 2.21 | 0.17 | 1.42 | 1.95 | 1.21 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £4.25bn | £3.90bn | £4.17bn | £4.99bn | £4.04bn | £3.43bn | £3.37bn | £3.37bn | £3.36bn | £3.04bn |
| Cash and short-term investments | £306.7m | £204.3m | £218.0m | £325.9m | £296.8m | £61.1m | £210.9m | £122.9m | £131.2m | £112.2m |
| Total liabilities | £520.2m | £328.8m | £449.8m | £594.7m | £454.1m | £287.7m | £535.4m | £508.0m | £666.6m | £602.2m |
| Debt | £336.0m | £283.7m | £373.8m | £412.5m | £374.3m | £216.9m | £430.6m | £438.7m | £431.9m | £400.7m |
| Shareholders' equity | £3.73bn | £3.57bn | £3.72bn | £4.39bn | £3.59bn | £3.15bn | £2.83bn | £2.86bn | £2.69bn | £2.44bn |
| Shares outstanding | 145m | 151m | 156m | 158m | 157m | 155m | 155m | 155m | 155m | 155m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £89.8m | £294.2m | £32.7m | £51.8m | £155.9m | £135.5m | £136.8m | £22.0m | £83.7m | £71.9m |
| Capital spending | −£100,000 | −£300,000 | −£100,000 | −£100,000 | −£200,000 | −£200,000 | −£200,000 | −£100,000 | — | — |
| Free cash flow | £89.7m | £293.9m | £32.6m | £51.7m | £155.7m | £135.3m | £136.6m | £21.9m | £83.7m | £71.9m |
| Dividends paid | −£56.5m | −£56.7m | −£57.6m | −£55.0m | −£54.7m | −£52.6m | −£51.0m | −£49.4m | −£47.9m | −£46.3m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | £122.6m | £182.1m | £161.4m | £121.9m | −£13.1m | £250,000 | −£175.0m | −£82.0m |
| Operating income | £104.0m | £163.6m | £141.4m | £98.8m | −£32.7m | −£18.0m | −£194.3m | −£99.1m |
| Net income | £104.0m | £163.6m | £141.4m | £98.8m | −£32.7m | −£16.4m | −£194.3m | −£97.2m |
| Diluted earnings per share | 0.74 | 1.13 | 0.97 | 0.66 | -0.22 | -0.11 | -1.25 | -0.63 |
| Total assets | £4.19bn | £4.25bn | £4.03bn | £3.90bn | £4.01bn | £4.01bn | £4.17bn | £4.17bn |
| Cash and short-term investments | £221.2m | £189.4m | £144.3m | £204.3m | £242.1m | £242.1m | £218.0m | £218.0m |
| Debt | £174.1m | £175.8m | £137.5m | £283.7m | £377.2m | £131.9m | £373.8m | £137.6m |
| Shareholders' equity | £3.75bn | £3.73bn | £3.64bn | £3.57bn | £3.55bn | £3.55bn | £3.72bn | £3.72bn |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | 99.1% | 97.4% | 100.0% | 101.0% | — | — |
| Operating margin | 1314.1% | 89.7% | 306.8% | -2144.9% | 94.3% | 92.0% | — | — |
| Net margin | 1224.8% | 81.3% | 203.4% | -2161.8% | 93.8% | 93.1% | — | — |
| Return on equity | 11.4% | 8.2% | 1.8% | -15.5% | 19.6% | 14.0% | — | — |
| Return on assets | 10.5% | 7.2% | 1.7% | -13.8% | 17.2% | 12.5% | — | — |
| Free cash flow yield | 0.1% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | — | — |
| Revenue growth | -90.0% | 1054.8% | 21.7% | -97.1% | 69.3% | 45.1% | — | — |
| Earnings growth | 50.6% | 361.4% | -111.5% | -167.2% | 70.5% | 47.2% | — | — |
| Current ratio | 2.21x | 7.13x | 1.65x | 15.58x | 5.02x | 129.71x | — | — |
| Debt to equity | 0.03x | 0.04x | 0.04x | 0.06x | 0.05x | 0.10x | — | — |
| Equity ratio | 92.1% | 87.8% | 91.6% | 89.2% | 88.1% | 88.8% | — | — |
| Interest coverage | 14.71x | 10.11x | 2.90x | -23.19x | 43.85x | 31.51x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 1.4% | 6.1% | 2.2% | 3.1% | -1.7% | 49.4% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -26.2% | -0.8% | 4.8% |
| Operating income | -28.0% | -1.3% | 4.8% |
| Net income | -29.2% | -2.3% | 4.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 90.1% | 89.9% | 93.1% | 93.6% |
| Operating margin | 74.5% | 71.0% | 79.8% | 80.8% |
| Net margin | 71.4% | 68.9% | 78.7% | 80.1% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.4 | 43.0 | -5.7 | 5.0 | 6.4 | 9.6 | 109.2 | 13.8 | 9.7 | 13.9 |
| Price to sales | 7.7 | 19.8 | -6.5 | 4.6 | 5.8 | 8.3 | 41.2 | 11.6 | 8.5 | 11.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 1 Oct 2026.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.43 | 0.39 | 0.38 | 0.37 | 0.353 | 0.35 | 0.34 | 0.33 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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