S 
568.50p
0.00%
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
£234.3m
FY2016FY2025
Net income
£111.1m
FY2016FY2025
Free cash flow
£96.8m
FY2016FY2025
Shareholders' equity
£2.29bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £234.3m | £223.5m | £224.2m | £212.5m | £186.8m | £162.3m | £151.8m | £143.9m | £129.9m | £115.4m |
| Gross profit | £152.9m | £149.8m | £154.3m | £149.5m | £129.9m | £106.0m | £98.0m | £92.2m | £84.2m | £74.5m |
| Research and development | — | — | £1 | £2 | £2 | £1 | £1 | £1 | £1 | £1 |
| Operating income | £133.7m | £425.8m | £230.4m | £123.5m | £101.2m | £86.3m | £80.1m | £75.5m | £71.8m | £63.3m |
| Net income | £111.1m | £372.3m | £200.2m | £462.9m | £382.0m | £178.0m | £132.1m | £177.2m | £78.3m | £87.4m |
| Diluted earnings per share | 0.51 | 1.70 | 0.92 | 2.11 | 1.74 | 0.84 | 0.63 | 0.84 | 0.37 | 0.42 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £3.59bn | £3.36bn | £2.96bn | £2.71bn | £2.12bn | £1.70bn | £1.47bn | £1.31bn | £1.16bn | £1.07bn |
| Cash and short-term investments | £11.0m | £25.3m | £16.9m | £20.9m | £43.2m | £19.6m | £33.2m | £10.5m | £65.6m | £5.4m |
| Total liabilities | £1.30bn | £1.13bn | £1.02bn | £914.1m | £742.4m | £665.5m | £585.1m | £525.9m | £518.9m | £479.5m |
| Debt | £1.07bn | £924.8m | £827.2m | £719.2m | £567.0m | £531.7m | £476.5m | £426.0m | £419.8m | £374.6m |
| Shareholders' equity | £2.29bn | £2.23bn | £1.94bn | £1.79bn | £1.37bn | £1.04bn | £885.9m | £788.6m | £637.7m | £587.4m |
| Shares outstanding | 220m | 219m | 219m | 219m | 219m | 212m | 211m | 211m | 210m | 210m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £99.9m | £95.9m | £98.0m | £109.8m | £97.0m | £75.7m | £66.6m | £60.6m | £55.6m | £47.0m |
| Capital spending | −£3.1m | −£120.1m | −£121.9m | −£96.2m | −£63.4m | −£61.2m | −£39.6m | −£800,000 | −£600,000 | −£800,000 |
| Free cash flow | £96.8m | −£24.2m | −£23.9m | £13.6m | £33.6m | £14.5m | £27.0m | £59.8m | £55.0m | £46.2m |
| Dividends paid | −£66.6m | −£65.9m | −£65.9m | −£56.9m | −£42.6m | −£37.7m | −£35.0m | −£31.3m | −£25.6m | −£21.3m |
Latest quarters
By quarter end
| Apr 2026 | Oct 2025 | Apr 2025 | Oct 2024 | Apr 2024 | Oct 2023 | Apr 2023 | Jan 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £120.6m | £121.5m | £112.7m | £114.2m | £109.2m | £114.1m | £110.1m | £55.0m |
| Gross profit | £76.5m | £79.8m | £73.8m | £76.2m | £73.5m | £78.7m | £75.6m | £37.8m |
| Operating income | £63.5m | £70.2m | £112.9m | £69.0m | £186.3m | £69.1m | £66.2m | £28.5m |
| Net income | £33.4m | £31.8m | £79.3m | £215.5m | £156.8m | £107.4m | £92.8m | £46.4m |
| Diluted earnings per share | 0.15 | 0.14 | 0.36 | 0.99 | 0.72 | 0.49 | 0.42 | 0.21 |
| Cash from operations | £47.0m | £58.0m | £41.0m | £50.0m | £45.0m | £61.0m | £36.0m | — |
| Capital spending | — | −£2.0m | −£1.0m | — | −£1.0m | −£121.0m | — | — |
| Free cash flow | — | £56.0m | £40.0m | — | £44.0m | −£60.0m | — | — |
| Total assets | £3.62bn | £3.59bn | £3.52bn | £3.36bn | £3.12bn | £2.96bn | £2.84bn | £2.84bn |
| Cash and short-term investments | £14.6m | £11.0m | £16.9m | £25.3m | £13.8m | £16.9m | £18.1m | £18.1m |
| Debt | £1.02bn | £989.0m | £938.9m | £838.2m | £785.6m | £738.9m | £710.3m | £781.6m |
| Shareholders' equity | £2.27bn | £2.29bn | £2.27bn | £2.23bn | £2.04bn | £1.94bn | £1.85bn | £1.85bn |
Financial ratios
Data as of 1 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 65.3% | 67.0% | 68.8% | 70.4% | 69.5% | 65.3% | — | — |
| Operating margin | 68.2% | 189.8% | 101.8% | 58.1% | 54.2% | 53.2% | — | — |
| Net margin | 47.4% | 166.6% | 89.3% | 217.8% | 204.5% | 109.7% | — | — |
| Return on equity | 4.9% | 16.7% | 10.3% | 25.8% | 27.8% | 17.2% | — | — |
| Return on assets | 3.1% | 11.1% | 6.8% | 17.1% | 18.0% | 10.5% | — | — |
| Free cash flow yield | 0.1% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | — | — |
| Revenue growth | 4.8% | -0.3% | 5.5% | 13.8% | 15.1% | 6.9% | — | — |
| Earnings growth | -70.2% | 86.0% | -56.8% | 21.2% | 114.6% | 34.7% | — | — |
| Current ratio | 0.27x | 0.89x | 0.45x | 0.30x | 0.83x | 0.73x | — | — |
| Debt to equity | 0.43x | 0.38x | 0.38x | 0.36x | 0.36x | 0.45x | — | — |
| Equity ratio | 63.7% | 66.3% | 65.4% | 66.2% | 64.9% | 60.9% | — | — |
| Interest coverage | 4.89x | 16.51x | 10.52x | 7.10x | 6.61x | 5.75x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -0.5% | 0.1% | 0.2% | 0.1% | -3.3% | -0.6% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.3% | 7.6% | 8.4% |
| Operating income | 2.7% | 9.2% | 9.2% |
| Net income | -37.9% | -9.0% | 0.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 66.1% | 67.8% | 67.7% | 66.6% |
| Operating margin | 122.2% | 102.1% | 88.5% | 76.6% |
| Net margin | 105.6% | 128.2% | 137.2% | 121.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.6 | 3.8 | 9.7 | 4.5 | 8.1 | 9.3 | 12.9 | 6.0 | 13.4 | 8.4 |
| Price to sales | 6.9 | 6.3 | 8.6 | 9.8 | 16.6 | 10.2 | 11.2 | 7.4 | 8.1 | 6.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 19 years. Last went ex-dividend on 2 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.308 | 0.305 | 0.302 | 0.303 | 0.27 | 0.202 | 0.179 | 0.167 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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