R 
87.00p
+0.46%
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
£78.6m
FY2016FY2025
Net income
−£16.4m
FY2016FY2025
Free cash flow
—
FY2016FY2025
Shareholders' equity
£319.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | £78.6m | £91.0m | £91.9m | £55.8m | £53.3m | £55.0m | £75.8m | £52.3m | £22.6m |
| Operating income | £24.7m | £34.7m | £35.8m | £42.4m | −£18.2m | £39.0m | £80.1m | £43.5m | £21.2m |
| Net income | −£16.4m | −£39.5m | −£67.5m | £28.8m | −£31.0m | £26.5m | £67.4m | £27.1m | £13.4m |
| Diluted earnings per share | -0.10 | -0.24 | -1.31 | 0.59 | -0.04 | 0.62 | 0.18 | 0.09 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | £636.6m | £722.1m | £782.4m | £1.01bn | £850.6m | £875.4m | £847.9m | £807.5m | £534.0m |
| Cash and short-term investments | £37.7m | £55.9m | £34.5m | £49.9m | £55.0m | £34.7m | £79.6m | £33.4m | £10.8m |
| Total liabilities | £317.3m | £370.5m | £476.3m | £508.3m | £430.0m | £391.7m | £418.4m | £414.6m | £242.2m |
| Debt | £273.7m | £323.8m | £427.0m | £449.9m | £376.6m | £353.7m | £334.7m | £334.4m | £217.4m |
| Shareholders' equity | £319.3m | £351.6m | £306.1m | £502.4m | £420.6m | £483.7m | £429.5m | £392.9m | £291.7m |
| Shares outstanding | 162m | 162m | 52m | 49m | 863m | 43m | 373m | 306m | 274m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £13.0m | £19.9m | £21.3m | £43.8m | £35.7m | £12.4m | £25.4m | £30.8m | £23.1m |
| Capital spending | −£13.0m | −£21.3m | — | — | — | −£25.8m | −£100.4m | −£8.3m | −£99.3m |
| Free cash flow | — | −£1.4m | £21.3m | £43.8m | £35.7m | −£13.4m | −£75.0m | £22.6m | −£76.3m |
| Dividends paid | −£15.2m | −£22.3m | −£32.0m | −£27.8m | −£26.7m | −£72.4m | −£29.4m | −£23.3m | −£15.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £34.3m | £38.7m | £39.9m | £46.7m | £44.2m | £22.1m | £47.5m | £23.7m |
| Operating income | £10.9m | £14.2m | £1.3m | −£4.0m | −£20.0m | −£10.0m | £10.1m | £11.2m |
| Net income | −£2.8m | −£8.5m | −£7.9m | −£12.4m | −£27.1m | −£13.6m | −£55.3m | −£27.7m |
| Diluted earnings per share | -0.02 | -0.05 | -0.05 | -0.08 | -0.17 | -0.08 | -1.07 | -0.54 |
| Cash from operations | £15.0m | £8.0m | £4.0m | £16.0m | £4.0m | £2.0m | £11.0m | £5.0m |
| Capital spending | — | −£8.0m | −£4.0m | −£16.0m | — | — | — | — |
| Free cash flow | — | £0 | £0 | £0 | — | — | — | — |
| Total assets | £601.7m | £636.6m | £700.7m | £722.1m | £729.7m | £729.7m | £782.4m | £782.4m |
| Cash and short-term investments | £40.8m | £37.7m | £47.1m | £55.9m | £25.7m | £25.7m | £34.5m | £34.5m |
| Debt | £435,000 | £435,000 | — | — | £50.0m | £50.0m | £49.9m | £49.9m |
| Shareholders' equity | £309.1m | £319.3m | £335.9m | £351.6m | £266.6m | £266.6m | £306.1m | £306.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | 8.1% | 11.0% |
| Operating income | — | — | 1.1% |
| Net income | -36.9% | -12.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 35.0% | 22.3% | 22.3% | 50.4% |
| Net margin | -33.0% | -92.4% | -60.9% | -6.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -10.6 | -4.7 | -2.7 | -46.7 | 15.9 | -229.7 | 18.3 | 51.1 | 116.3 | 219.4 |
| Price to sales | 2.2 | 2.0 | 2.0 | -52.9 | 8.2 | 133.6 | 8.8 | 45.4 | 60.1 | 130.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 10 years. Last went ex-dividend on 17 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.065 | 0.127 | 0.276 | 0.36 | 0.421 | 0.398 | 16.436 | 16.139 |
- 10-to-1 reverse split · 29 Jul 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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