S 
103.00p
+3.00%
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
£176.9m
FY2016FY2025
Net income
−£5.0m
FY2016FY2025
Free cash flow
−£200,000
FY2016FY2025
Shareholders' equity
−£8.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £176.9m | £188.0m | £168.4m | £137.8m | £144.5m | £107.1m | £123.8m | £125.9m | £117.0m | £120.4m |
| Research and development | — | — | — | — | — | — | £1.9m | — | — | — |
| Operating income | £9.8m | £13.2m | £6.4m | £25.3m | £21.6m | £9.4m | £22.6m | £4.8m | £16.5m | £19.7m |
| Net income | −£5.0m | £10.8m | £4.5m | £17.5m | £19.4m | £7.6m | £16.0m | £1.6m | £11.7m | £12.6m |
| Diluted earnings per share | -0.11 | 0.24 | 0.09 | 0.36 | 0.41 | 0.18 | 0.40 | 0.04 | 0.29 | 0.31 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £161.9m | £169.7m | £153.9m | £154.5m | £122.6m | £96.3m | £93.0m | £83.5m | £92.6m | £94.0m |
| Cash and short-term investments | £12.3m | £11.1m | £13.9m | £18.3m | £14.7m | £5.2m | £6.2m | £6.3m | £6.1m | £13.3m |
| Total liabilities | £180.0m | £182.6m | £166.5m | £162.8m | £148.5m | £126.2m | £140.3m | £142.6m | £130.9m | £147.0m |
| Debt | £75.7m | £67.2m | £65.3m | £53.0m | £35.3m | £33.5m | £56.1m | £42.6m | £41.6m | £39.7m |
| Shareholders' equity | −£8.5m | −£1.9m | −£7.5m | −£8.0m | −£25.8m | −£29.8m | −£47.1m | −£59.1m | −£38.3m | −£53.0m |
| Shares outstanding | 47m | 46m | 48m | 49m | 48m | 41m | 40m | 40m | 40m | 40m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £2.3m | £8.7m | £3.8m | −£1.3m | £22.6m | £9.6m | £13.3m | £13.1m | £2.0m | £6.9m |
| Capital spending | −£2.5m | −£1.4m | −£1.2m | −£3.9m | −£2.9m | −£2.1m | −£2.9m | −£3.0m | −£2.9m | −£1.8m |
| Free cash flow | −£200,000 | £7.3m | £2.6m | −£5.2m | £19.7m | £7.5m | £10.4m | £10.1m | −£900,000 | £5.1m |
| Dividends paid | −£3.3m | −£5.1m | −£5.2m | −£5.1m | −£4.4m | −£4.4m | −£7.6m | −£6.9m | −£6.2m | −£4.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £66.1m | £86.9m | £90.0m | £97.6m | £90.4m | £93.1m | £75.3m | £75.7m |
| Operating income | −£20.5m | £500,000 | £3.3m | £6.7m | £6.5m | £9.6m | £2.8m | £13.4m |
| Net income | −£21.1m | −£5.0m | — | £5.1m | £5.7m | £1.2m | £3.3m | £9.0m |
| Diluted earnings per share | -0.46 | -0.11 | — | 0.11 | 0.12 | 0.03 | 0.07 | 0.18 |
| Cash from operations | £5.0m | −£7.0m | £9.0m | −£6.0m | £15.0m | £2.0m | £1.0m | −£4.0m |
| Capital spending | — | −£1.0m | −£1.0m | — | — | — | — | −£1.0m |
| Free cash flow | — | −£8.0m | £8.0m | — | — | — | — | −£5.0m |
| Total assets | £149.7m | £161.9m | £174.2m | £169.7m | £183.1m | £153.9m | £127.0m | £154.5m |
| Cash and short-term investments | £12.9m | £12.3m | £10.9m | £11.1m | £26.5m | £13.9m | £4.0m | £11.3m |
| Debt | £8.6m | £58.8m | £48.4m | £50.6m | £55.8m | £47.4m | £21.2m | £34.3m |
| Shareholders' equity | −£28.0m | −£8.5m | −£4.8m | −£1.9m | −£500,000 | −£7.5m | −£4.2m | −£8.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.7% | 10.6% | 4.3% |
| Operating income | -27.1% | 0.8% | -6.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 6.3% | 8.2% | 9.3% | 11.1% |
| Net margin | 1.6% | 4.1% | 5.9% | 7.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.9 | 9.3 | 20.9 | 7.7 | 8.6 | 16.5 | 10.2 | 88.1 | 11.0 | 11.3 |
| Price to sales | 0.3 | 0.5 | 0.6 | 1.0 | 1.1 | 1.2 | 1.3 | 1.1 | 1.1 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 17 Apr 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.074 | 0.113 | 0.113 | 0.112 | 0.097 | 0.201 | 0.178 | 0.158 |
- 1.01-for-1 split · 10 Dec 2020
- 20-to-1 reverse split · 1 Oct 2008
- 4-for-1 split · 26 Jun 2000
- 1.017-for-1 split · 14 Jan 2000
- 2-for-1 split · 15 Jun 1992
- 2-for-1 split · 17 Jun 1991
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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