T 
309.80p
-0.90%
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, before interest expense
£2.36bn
FY2016FY2025
Net income
£186.0m
FY2016FY2025
Total assets
£8.18bn
FY2016FY2025
Shareholders' equity
£2.02bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | £2.36bn | £2.25bn | £2.21bn | £2.12bn | £1.86bn | £1.81bn | £1.83bn | £1.76bn | £1.76bn | £891.5m |
| Research and development | — | £245.0m | £238.0m | £237.0m | £208.0m | £184.0m | £180.0m | £168.0m | £174.0m | £6.0m |
| Operating income | £261.0m | £254.0m | £235.0m | £163.0m | £97.0m | £178.0m | £217.0m | £93.0m | £132.0m | £73.3m |
| Net income | £186.0m | £167.0m | £74.0m | £103.0m | £5.0m | £96.0m | £53.0m | £32.0m | £87.0m | £43.2m |
| Diluted earnings per share | 0.24 | 0.21 | 0.09 | 0.13 | 0.01 | 0.15 | 0.09 | 0.06 | 0.15 | 0.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £8.18bn | £6.45bn | £6.21bn | £5.86bn | £5.45bn | £72.73bn | £52.06bn | £25.51bn | £37.37bn | £25.99bn |
| Cash and short-term investments | £2.25bn | £1.22bn | £1.79bn | £1.33bn | £1.06bn | £783.0m | £824.0m | £800.0m | £761.0m | £785.6m |
| Total liabilities | £6.14bn | £4.37bn | £4.14bn | £3.70bn | £3.47bn | £71.04bn | £50.34bn | £23.68bn | £35.54bn | £24.08bn |
| Debt | £1.00bn | £974.0m | £1.09bn | £1.07bn | £1.14bn | £937.0m | £829.0m | £642.0m | £589.0m | £546.8m |
| Shareholders' equity | £2.02bn | £2.06bn | £2.05bn | £2.14bn | £1.96bn | £1.68bn | £1.71bn | £1.81bn | £1.82bn | £1.90bn |
| Shares outstanding | 763m | 789m | 780m | 796m | 780m | 634m | 562m | 568m | 563m | 260m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | £1.30bn | £1.23bn | £1.19bn | £1.08bn | £1.11bn | £1.07bn | £1.14bn | £1.04bn |
| Operating income | £153.0m | £215.0m | £140.0m | −£131.0m | £385.0m | £103.0m | £132.0m | £83.0m |
| Net income | £104.0m | £87.0m | £99.0m | £76.0m | £91.0m | £8.0m | £66.0m | £39.0m |
| Diluted earnings per share | 0.14 | 0.11 | 0.13 | 0.10 | 0.12 | 0.01 | 0.08 | 0.05 |
| Total assets | £8.98bn | £8.18bn | £7.48bn | £6.45bn | £6.97bn | £6.21bn | £5.68bn | £5.86bn |
| Cash and short-term investments | £3.26bn | £2.25bn | £1.92bn | £1.22bn | £1.60bn | £1.79bn | £1.52bn | £1.33bn |
| Debt | £980.0m | £834.0m | £814.0m | £784.0m | £801.0m | £865.0m | £905.0m | £852.0m |
| Shareholders' equity | £2.00bn | £2.02bn | £1.94bn | £2.06bn | £2.06bn | £2.05bn | £2.09bn | £2.14bn |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 13.5% | 11.7% | 10.7% | 7.8% | 8.0% | 9.9% | — |
| Net margin | 7.9% | 7.4% | 3.4% | 4.9% | 0.3% | 5.3% | — |
| Return on equity | 9.2% | 8.1% | 3.6% | 4.8% | 0.3% | 5.7% | — |
| Return on assets | 2.3% | 2.6% | 1.2% | 1.8% | 0.1% | 0.1% | — |
| Revenue growth | 4.9% | 2.2% | 4.3% | 13.4% | 3.2% | -1.4% | — |
| Earnings growth | 11.4% | 125.7% | -28.2% | 1960.0% | -94.8% | 81.1% | — |
| Current ratio | 30.33x | 1.31x | 0.33x | 1.42x | 1.39x | 0.04x | — |
| Debt to equity | 0.41x | 0.38x | 0.42x | 0.38x | 0.45x | 0.45x | — |
| Equity ratio | 24.7% | 32.0% | 33.0% | 36.6% | 36.0% | 2.3% | — |
| Interest coverage | 4.68x | 4.19x | 3.73x | 4.05x | 2.76x | 3.65x | — |
| R&D as a share of sales | — | 10.9% | 10.8% | 11.2% | 11.2% | 10.2% | 9.8% |
| Buybacks as a share of market value | 3.2% | -1.1% | 2.1% | -2.2% | -23.0% | -12.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.8% | 5.5% | 11.5% |
| Operating income | 17.0% | 8.0% | 7.9% |
| Net income | 21.8% | 14.1% | 8.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 11.2% | 10.2% | 9.4% | 9.3% |
| Net margin | 7.6% | 5.9% | 5.0% | 4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.7 | 12.2 | 20.6 | 13.5 | 238.1 | 15.7 | 43.3 | 53.4 | 19.7 | 14.9 |
| Price to sales | 0.8 | 0.9 | 0.7 | 0.7 | 0.6 | 0.8 | 1.3 | 1.0 | 1.0 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 25 years. Last went ex-dividend on 1 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.172 | 0.165 | 0.148 | 0.127 | 0.10 | 0.06 | 0.15 | 0.15 |
- 1-to-1 reverse split · 26 Feb 2021
- 1-to-1 reverse split · 15 Mar 2007
- 1-to-1 reverse split · 10 Mar 2003
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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