R 
110.00p
+4.76%
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 USD, from our data supplier.
Revenue
$199.0m
FY2016FY2025
Net income
$8.7m
FY2016FY2025
Free cash flow
$8.4m
FY2016FY2025
Shareholders' equity
$225.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $199.0m | $187.9m | $176.7m | $208.8m | $191.9m | $139.1m | $125.0m | $105.5m | $100.2m | $79.3m |
| Gross profit | $59.7m | $51.5m | $33.7m | $60.7m | $62.2m | $28.1m | $35.6m | $29.2m | $35.1m | $29.0m |
| Research and development | — | — | $374,000 | $65,000 | $752,000 | $1.0m | — | — | — | — |
| Operating income | $42.3m | $48.0m | $14.8m | $41.4m | $48.1m | $8.8m | −$9.1m | −$10.7m | −$2.2m | $5.6m |
| Net income | $8.7m | $26.4m | −$10.2m | $27.8m | $7.3m | −$13.6m | −$17.8m | −$13.7m | −$19.6m | −$10.4m |
| Diluted earnings per share | 0.20 | 0.60 | -0.23 | 0.58 | 0.17 | -0.31 | -0.42 | -0.34 | -0.48 | -0.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $579.0m | $599.0m | $540.4m | $561.3m | $591.5m | $573.8m | $599.1m | $624.1m | $647.3m | $670.9m |
| Cash and short-term investments | $23.2m | $38.8m | $14.2m | $21.9m | $46.9m | $11.8m | $39.6m | $47.0m | $8.3m | $34.5m |
| Total liabilities | $277.7m | $304.1m | $306.3m | $303.8m | $348.8m | $328.0m | $346.5m | $362.8m | $370.6m | $361.3m |
| Debt | $175.6m | $213.8m | $209.1m | $205.6m | $241.4m | $204.6m | $221.5m | $214.7m | $228.7m | $236.7m |
| Shareholders' equity | $225.0m | $224.5m | $219.8m | $233.9m | $222.4m | $226.8m | $239.7m | $246.8m | $259.1m | $286.7m |
| Shares outstanding | 44m | 44m | 44m | 48m | 44m | 44m | 42m | 41m | 41m | 37m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $43.5m | $31.8m | $29.6m | $16.7m | $36.9m | $33.5m | $2.2m | −$25.9m | $19.7m | $2.6m |
| Capital spending | −$35.1m | −$39.2m | −$26.8m | −$20.4m | −$17.2m | −$14.7m | −$27.0m | −$31.4m | −$33.7m | −$33.0m |
| Free cash flow | $8.4m | −$7.4m | $2.8m | −$3.7m | $19.7m | $18.8m | −$24.8m | −$57.3m | −$14.0m | −$30.4m |
| Dividends paid | −$9.0m | −$18.6m | −$4.1m | −$16.5m | −$9.8m | −$9.8m | −$9.8m | −$8.4m | −$7.8m | −$7.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $88.6m | $103.0m | $97.7m | $107.0m | $80.9m | $103.1m | $51.5m | $73.6m |
| Gross profit | $31.4m | $29.2m | $31.1m | $34.3m | $17.2m | $21.8m | $10.9m | $11.9m |
| Operating income | $23.3m | $22.4m | $19.8m | $26.3m | $8.6m | $13.6m | $6.8m | $1.2m |
| Net income | $9.0m | $11.0m | −$2.6m | $24.9m | $1.5m | $402,000 | $201,000 | −$10.6m |
| Diluted earnings per share | 0.11 | 0.25 | -0.06 | 0.57 | 0.03 | 0.01 | 0.00 | -0.24 |
| Cash from operations | $19.0m | $36.0m | $6.0m | $36.0m | −$3.0m | $28.0m | $14.0m | $1.0m |
| Capital spending | −$17.0m | −$17.0m | −$16.0m | −$29.0m | −$9.0m | −$7.0m | −$3.0m | −$7.0m |
| Free cash flow | $2.0m | $19.0m | −$10.0m | $7.0m | −$12.0m | $21.0m | $11.0m | −$6.0m |
| Total assets | $598.3m | $579.0m | $607.0m | $599.0m | $541.6m | $540.4m | $540.4m | $557.4m |
| Cash and short-term investments | $22.6m | $23.2m | $40.3m | $38.8m | $15.9m | $14.2m | $14.2m | $17.5m |
| Debt | $185.7m | $175.5m | $203.4m | $192.0m | $199.8m | $193.8m | $28.8m | $224.5m |
| Shareholders' equity | $230.3m | $225.0m | $218.1m | $224.5m | $204.4m | $219.8m | $219.8m | $219.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.6% | 7.4% | 8.2% |
| Operating income | 0.7% | 36.9% | — |
| Net income | -32.2% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.7% | 26.6% | 26.8% | 28.2% |
| Operating margin | 23.3% | 19.0% | 18.4% | 11.3% |
| Net margin | 9.1% | 6.8% | 4.2% | -1.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | 8.5 | 1.6 | -4.1 | 2.4 | 10.5 | -2.5 |
| Price to sales | 0.4 | 0.2 | 0.2 | 0.3 | 0.4 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 2 Jul 2015.
| FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.042 | 0.086 | 0.078 | 0.078 | 0.067 | 0.056 | 0.044 | 0.033 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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