R 
136.00p
-4.56%
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
£781.1m
FY2016FY2025
Net income
−£26.8m
FY2016FY2025
Free cash flow
£7.5m
FY2016FY2025
Shareholders' equity
£101.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £781.1m | £892.1m | £1.06bn | £1.10bn | £970.7m | £938.4m | £1.22bn | £1.23bn | £1.17bn | £998.5m |
| Gross profit | £251.7m | £321.4m | £386.8m | £428.2m | £353.6m | £302.4m | £405.5m | £392.0m | £345.2m | £278.3m |
| Operating income | −£15.0m | £5.2m | £26.3m | £58.2m | £54.1m | £14.8m | £51.2m | £49.7m | £41.9m | £26.7m |
| Net income | −£26.8m | −£6.0m | £13.4m | £39.1m | £33.5m | £5.7m | £34.0m | £35.6m | £29.3m | £19.9m |
| Diluted earnings per share | -0.37 | -0.09 | 0.19 | 0.54 | 0.44 | 0.08 | 0.45 | 0.46 | 0.39 | 0.26 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £294.5m | £355.5m | £415.7m | £474.1m | £446.3m | £412.6m | £434.0m | £349.8m | £323.7m | £328.5m |
| Cash and short-term investments | £49.1m | £68.1m | £95.7m | £123.2m | £142.3m | £155.5m | £112.4m | £79.9m | £61.9m | £62.6m |
| Total liabilities | £193.3m | £217.0m | £250.8m | £290.2m | £271.5m | £243.3m | £273.4m | £197.0m | £201.9m | £226.5m |
| Debt | £90.9m | £88.0m | £95.0m | £102.5m | £82.1m | £63.8m | £102.1m | £5.7m | £30.8m | £40.1m |
| Shareholders' equity | £101.2m | £138.5m | £164.9m | £183.9m | £174.8m | £169.3m | £160.6m | £152.8m | £121.8m | £101.9m |
| Shares outstanding | 72m | 66m | 70m | 72m | 76m | 75m | 75m | 77m | 75m | 77m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £8.9m | £19.8m | £45.5m | £38.1m | £33.6m | £98.9m | £69.8m | £62.7m | £32.0m | £29.5m |
| Capital spending | −£1.4m | −£10.1m | −£15.9m | −£15.9m | −£13.2m | −£9.9m | −£9.5m | −£6.3m | −£7.0m | −£5.0m |
| Free cash flow | £7.5m | £9.7m | £29.6m | £22.2m | £20.4m | £89.0m | £60.3m | £56.4m | £25.0m | £24.5m |
| Dividends paid | −£11.2m | −£15.5m | −£15.8m | −£15.2m | −£11.9m | −£3.2m | −£10.6m | −£9.4m | −£6.1m | −£5.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £433.7m | £378.3m | £402.8m | £432.8m | £459.3m | £515.8m | £548.3m | £561.0m |
| Gross profit | £123.6m | £123.2m | £140.0m | £155.3m | £166.1m | £172.3m | £190.5m | £206.4m |
| Operating income | −£4.5m | −£7.1m | −£7.8m | £5.0m | £200,000 | £15.3m | £11.2m | £30.5m |
| Net income | −£9.1m | −£15.6m | −£11.2m | −£3.6m | −£2.4m | £8.1m | £5.3m | £19.7m |
| Diluted earnings per share | -0.14 | -0.22 | -0.15 | -0.05 | -0.04 | 0.12 | 0.08 | 0.27 |
| Cash from operations | — | £6.0m | £2.0m | £22.0m | −£3.0m | £34.0m | £10.0m | £46.0m |
| Capital spending | — | — | — | — | −£1.0m | −£7.0m | −£8.0m | −£9.0m |
| Free cash flow | — | — | — | — | −£4.0m | £27.0m | £2.0m | £37.0m |
| Total assets | £277.2m | £294.5m | £329.6m | £355.5m | £373.6m | £415.7m | £425.4m | £474.1m |
| Cash and short-term investments | £34.7m | £49.1m | £55.1m | £68.1m | £63.4m | £95.7m | £88.9m | £123.2m |
| Debt | £33.6m | £40.1m | £42.7m | £33.8m | £32.9m | £33.8m | £36.7m | £44.4m |
| Shareholders' equity | £93.3m | £101.2m | £116.1m | £138.5m | £147.8m | £164.9m | £165.6m | £183.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.8% | -3.6% | -0.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 34.3% | 36.2% | 35.6% | 33.1% |
| Operating margin | -0.6% | 1.9% | 2.5% | 3.0% |
| Net margin | -2.0% | 0.5% | 1.0% | 1.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.7 | -34.5 | 23.2 | 9.9 | 17.6 | 62.3 | 12.3 | 11.9 | 15.1 | 13.2 |
| Price to sales | 0.1 | 0.2 | 0.3 | 0.3 | 0.6 | 0.4 | 0.3 | 0.3 | 0.4 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 25 years. Last went ex-dividend on 24 Apr 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.17 | 0.235 | 0.235 | 0.215 | 0.164 | 0.045 | 0.152 | 0.133 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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