R 
139.50p
+2.88%
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
£690.1m
FY2016FY2025
Net income
−£99.8m
FY2016FY2025
Free cash flow
£61.2m
FY2016FY2025
Shareholders' equity
£763.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £690.1m | £718.2m | £733.8m | £749.2m | £694.5m | £355.8m | £355.7m | £306.0m | £164.0m | £122.0m |
| Gross profit | £259.0m | £336.5m | £339.5m | £350.2m | £313.2m | £139.6m | £142.5m | £118.8m | £71.8m | £52.2m |
| Research and development | — | £27.9m | £27.7m | £21.8m | £18.5m | £2.9m | £604,000 | £1.0m | £854,000 | £453,000 |
| Operating income | £21.5m | £65.8m | −£6.9m | £86.3m | £57.4m | £55.5m | £62.7m | £44.1m | £34.0m | £26.5m |
| Net income | −£99.8m | £47.5m | −£27.7m | £62.7m | £41.2m | £46.4m | £45.1m | £28.3m | £24.6m | £19.3m |
| Diluted earnings per share | -0.27 | 0.13 | -0.07 | 0.16 | 0.11 | 0.17 | 0.16 | 0.10 | 0.11 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.04bn | £1.21bn | £1.32bn | £1.48bn | £1.35bn | £592.5m | £577.3m | £541.6m | £231.5m | £165.5m |
| Cash and short-term investments | £32.6m | £61.5m | £76.2m | £101.2m | £92.5m | £51.4m | £47.0m | £38.2m | £20.1m | £27.9m |
| Total liabilities | £277.7m | £306.9m | £328.5m | £334.6m | £336.3m | £183.6m | £179.8m | £186.3m | £72.7m | £56.8m |
| Debt | £80.5m | £101.6m | £86.1m | £76.0m | £98.7m | £89.3m | £83.7m | £103.3m | £40.3m | £29.4m |
| Shareholders' equity | £763.2m | £899.6m | £987.3m | £1.14bn | £1.01bn | £408.9m | £397.5m | £355.3m | £158.9m | £108.7m |
| Shares outstanding | 369m | 371m | 389m | 391m | 389m | 275m | 275m | 274m | 230m | 217m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £64.6m | £75.3m | £107.5m | £127.5m | £84.9m | £79.4m | £70.4m | £43.6m | £28.4m | £24.4m |
| Capital spending | −£3.4m | −£43.1m | −£40.3m | −£29.6m | −£23.2m | −£8.1m | −£3.8m | −£1.9m | −£1.5m | −£731,000 |
| Free cash flow | £61.2m | £32.2m | £67.2m | £97.9m | £61.7m | £71.3m | £66.5m | £41.8m | £26.9m | £23.7m |
| Dividends paid | −£45.9m | −£45.5m | −£46.3m | −£41.9m | −£36.0m | −£24.1m | −£21.2m | −£18.3m | −£12.6m | −£10.6m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £360.3m | £345.8m | £344.3m | £367.9m | £350.3m | £367.5m | £366.3m | £183.2m |
| Gross profit | £150.0m | £109.8m | £149.2m | £176.2m | £160.3m | £172.1m | £167.4m | £83.7m |
| Operating income | £4.1m | £24.0m | −£2.5m | £73.5m | £19.8m | −£37.5m | £30.6m | £14.4m |
| Net income | −£7.5m | −£88.5m | −£11.3m | £36.4m | £11.1m | −£48.6m | £20.9m | £10.4m |
| Diluted earnings per share | -0.02 | -0.24 | -0.03 | 0.10 | 0.03 | -0.13 | 0.05 | 0.03 |
| Cash from operations | £19.0m | £29.0m | £34.0m | £36.0m | £34.0m | £47.0m | £58.0m | — |
| Capital spending | — | −£1.0m | −£1.0m | — | −£2.0m | −£17.0m | −£22.0m | — |
| Free cash flow | — | £28.0m | £33.0m | — | £32.0m | £30.0m | £36.0m | — |
| Total assets | £1.03bn | £1.04bn | £1.20bn | £1.21bn | £1.29bn | £1.32bn | £1.36bn | £1.36bn |
| Cash and short-term investments | £33.7m | £32.6m | £69.5m | £61.5m | £64.6m | £76.2m | £76.3m | £76.3m |
| Debt | £71.4m | £63.6m | £101.5m | £82.9m | £112.5m | £62.5m | £28.3m | £47.2m |
| Shareholders' equity | £748.8m | £763.2m | £869.9m | £899.6m | £909.0m | £987.3m | £1.06bn | £1.06bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.7% | 14.2% | 21.9% |
| Operating income | -37.1% | -17.3% | 0.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 42.3% | 44.5% | 44.1% | 43.3% |
| Operating margin | 6.2% | 5.8% | 7.1% | 9.4% |
| Net margin | -3.7% | -0.6% | 1.8% | 4.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.2 | 8.0 | -19.9 | 13.2 | 34.7 | 18.0 | 20.9 | 26.3 | 24.4 | 22.1 |
| Price to sales | 0.5 | 0.5 | 0.8 | 1.1 | 2.1 | 2.3 | 2.7 | 2.4 | 3.6 | 3.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 22 years. Last went ex-dividend on 18 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.064 | 0.125 | 0.152 | 0.119 | 0.193 | 0.093 | 0.088 | 0.078 |
- 5-for-1 split · 11 Feb 2015
- 50-to-1 reverse split · 11 Nov 2003
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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