S 
389.50p
+2.50%
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.
Net income
−£1.8m
FY2017FY2026
Free cash flow
—
FY2017FY2026
Shareholders' equity
£128.9m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | — | — | — | £2 | £2 | £3 | £1 | £0 | £0 | £1 |
| Operating income | −£1.8m | −£2.7m | £26.8m | £12.4m | −£20.3m | £70.6m | −£15.3m | £2.3m | £2.8m | £40.7m |
| Net income | −£1.8m | −£2.7m | £26.8m | £12.4m | −£20.3m | £70.6m | −£15.3m | £2.3m | £2.8m | £40.6m |
| Diluted earnings per share | -0.05 | -0.06 | 0.57 | 0.25 | -0.38 | 1.12 | -0.24 | 0.04 | 0.04 | 0.60 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £129.2m | £174.4m | £191.7m | £170.8m | £177.2m | £223.8m | £152.1m | £172.4m | £175.2m | £179.2m |
| Cash and short-term investments | £7.3m | £9.5m | £9.2m | £1.2m | £16.4m | £7.6m | £13.9m | £16.3m | £14.1m | £15.9m |
| Total liabilities | £247,000 | £246,000 | £1.7m | £561,000 | £2.2m | £2.2m | £367,000 | £3.4m | £943,000 | £2.8m |
| Shareholders' equity | £128.9m | £174.2m | £190.0m | £170.2m | £175.0m | £221.6m | £151.7m | £169.0m | £174.3m | £176.3m |
| Shares outstanding | 34m | 42m | 47m | 49m | 54m | 63m | 63m | 63m | 66m | 68m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £446,000 | £877,000 | £15.0m | £2.2m | £34.9m | −£5.5m | −£291,000 | £9.7m | £3.0m | £5.3m |
| Capital spending | −£446,000 | — | −£4.0m | — | — | — | — | — | — | — |
| Free cash flow | — | £877,000 | £11.0m | £2.2m | £34.9m | −£5.5m | −£291,000 | £9.7m | £3.0m | £5.3m |
| Dividends paid | −£1.8m | −£1.6m | −£1.2m | −£1.1m | −£1.0m | −£791,000 | −£951,000 | −£661,000 | −£531,000 | −£545,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | −£5.3m | £3.5m | £14.2m | −£16.9m | £24.3m | £12.1m | £2.6m | £1.3m |
| Net income | −£5.3m | £3.5m | £14.2m | −£16.9m | £24.3m | £12.1m | £2.6m | £1.3m |
| Diluted earnings per share | -0.16 | 0.08 | 0.34 | -0.36 | 0.51 | 0.26 | 0.05 | 0.03 |
| Cash from operations | — | — | — | — | £2.0m | £4.0m | £1.0m | £3.0m |
| Capital spending | — | — | — | — | −£3.0m | — | — | — |
| Free cash flow | — | — | — | — | −£1.0m | — | — | — |
| Total assets | £129.2m | £149.6m | £174.4m | £167.1m | £191.7m | £191.7m | £169.4m | £169.4m |
| Cash and short-term investments | £7.3m | £7.4m | £9.5m | £2.4m | £9.2m | £9.2m | £3.0m | £3.0m |
| Shareholders' equity | £128.9m | £149.3m | £174.2m | £166.7m | £190.0m | £190.0m | £168.5m | £168.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -47.6% | -56.7% | — |
| Operating income | — | — | -18.3% |
| Net income | — | — | -18.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -13.6% | 49.3% | 69.4% | 71.4% |
| Net margin | -13.6% | 49.3% | 69.4% | 71.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -74.2 | -58.8 | 5.8 | 12.7 | -7.3 | 2.8 | -9.6 | 66.3 | 46.9 | 4.0 |
| Price to sales | 121.7 | 4.9 | 5.2 | 20.9 | -7.7 | 2.8 | -10.2 | 53.2 | 38.3 | 4.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 17 years. Last went ex-dividend on 23 Oct 2025.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.043 | 0.035 | 0.025 | 0.02 | 0.016 | 0.013 | 0.015 | 0.01 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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