R 
7.20p
+2.86%
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.
Revenue
£29.8m
FY2017FY2025
Net income
−£9.1m
FY2017FY2025
Free cash flow
£14.2m
FY2017FY2025
Shareholders' equity
£134.2m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | £29.8m | £30.5m | −£20.7m | £15.4m | £13.5m | £6.3m | £14.7m | £10.4m | — |
| Gross profit | £17.5m | £17.6m | −£20.7m | £15.4m | £13.5m | £6.3m | £14.7m | £3.5m | — |
| Research and development | — | — | £1 | £0 | £0 | £0 | £1 | £2 | — |
| Operating income | £16.0m | £9.4m | −£23.2m | £18.6m | £11.2m | £2.4m | £13.2m | £1.0m | −£112,000 |
| Net income | −£9.1m | −£10.0m | −£23.2m | £13.3m | £11.2m | £2.4m | £13.2m | £16.1m | −£27,990 |
| Diluted earnings per share | -0.05 | -0.05 | -0.13 | 0.07 | 0.06 | 0.01 | 0.08 | 0.09 | -0.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | £333.6m | £369.3m | £389.4m | £427.5m | £389.7m | £356.3m | £328.0m | £267.4m | — |
| Cash and short-term investments | £7.6m | £5.4m | £3.2m | £12.7m | £5.7m | £8.5m | £25.0m | −£39.5m | — |
| Total liabilities | £199.4m | £218.3m | £220.8m | £226.1m | £207.3m | £176.7m | £142.3m | £83.8m | — |
| Debt | £190.0m | £208.5m | £213.3m | £221.0m | £199.5m | £170.7m | £137.7m | £79.3m | — |
| Shareholders' equity | £134.2m | £151.0m | £168.7m | £201.4m | £182.4m | £179.6m | £185.7m | £183.6m | — |
| Shares outstanding | 185m | 185m | 185m | 185m | 175m | 171m | 171m | 172m | 180m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £14.2m | £17.9m | £16.8m | £14.1m | £20.0m | £3.1m | £6.5m | £3.6m | — |
| Capital spending | — | — | — | −£29.2m | −£31.8m | −£36.0m | −£27.8m | — | — |
| Free cash flow | £14.2m | £17.9m | £16.8m | −£15.0m | −£11.8m | −£33.0m | −£21.3m | £3.6m | — |
| Dividends paid | −£7.6m | −£7.6m | −£9.6m | −£9.2m | −£8.6m | −£8.5m | −£7.7m | −£4.0m | — |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £14.9m | £15.0m | £15.0m | £15.5m | £7.7m | £16.5m | £8.3m | £17.0m |
| Gross profit | £8.6m | £15.0m | £15.0m | £15.5m | £7.7m | £16.5m | £8.3m | £17.0m |
| Operating income | £4.1m | −£3.5m | £3.7m | £5.7m | £4.0m | £20.9m | £4.0m | £1.8m |
| Net income | −£2.7m | −£6.4m | £369,000 | −£10.4m | −£5.2m | £6.8m | £3.4m | −£30.0m |
| Diluted earnings per share | -0.01 | -0.03 | 0.00 | -0.06 | -0.03 | 0.04 | 0.02 | -0.16 |
| Cash from operations | £6.0m | £7.0m | £10.0m | £7.0m | £3.0m | £4.0m | £4.0m | £5.0m |
| Total assets | £333.6m | £338.7m | £369.3m | £379.4m | £379.4m | £389.4m | £389.4m | £401.1m |
| Cash and short-term investments | £7.6m | £5.6m | £11.1m | £8.9m | £8.9m | £3.2m | £8.8m | £5.2m |
| Debt | — | — | £18.8m | — | — | £24.3m | — | £15.8m |
| Shareholders' equity | £134.2m | £140.8m | £151.0m | £154.4m | £154.4m | £168.7m | £168.7m | £166.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 24.6% | 36.7% | — |
| Operating income | -5.0% | 45.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 58.1% | 54.1% | 66.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.9 | -1.8 | -0.8 | 1.9 | 2.8 | 10.2 | 2.1 | 1.5 | -1055.1 |
| Price to sales | 0.6 | 0.6 | -0.9 | 1.6 | 2.3 | 4.0 | 1.9 | 2.4 | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 5 Feb 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.041 | 0.041 | 0.052 | 0.042 | 0.032 | 0.024 | 0.031 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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