T 
891.00p
-1.00%
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
£1.94bn
FY2017FY2026
Net income
£80.7m
FY2017FY2026
Free cash flow
£106.6m
FY2017FY2026
Shareholders' equity
£266.8m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £1.94bn | £1.84bn | £2.04bn | £2.48bn | £967.4m | £861.2m | £875.8m | £804.4m | £792.9m | £740.3m |
| Gross profit | £377.9m | £358.1m | £355.2m | £295.0m | £177.2m | £161.9m | £156.5m | £149.6m | £139.6m | £127.5m |
| Operating income | £124.7m | £115.9m | £106.3m | £84.7m | £50.0m | £44.6m | £48.8m | £44.3m | £41.9m | £38.0m |
| Net income | £80.7m | £76.1m | £71.0m | £68.4m | £35.5m | £32.6m | £35.9m | £33.1m | £30.5m | £30.4m |
| Diluted earnings per share | 1.00 | 0.94 | 0.89 | 0.85 | 0.44 | 0.41 | 0.46 | 0.42 | 0.39 | 0.38 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £799.2m | £736.4m | £651.4m | £794.7m | £465.8m | £462.7m | £482.7m | £433.8m | £437.9m | £399.7m |
| Cash and short-term investments | £91.5m | £79.0m | £57.8m | £193.8m | £29.6m | £25.1m | £43.6m | £24.2m | £28.2m | £18.7m |
| Total liabilities | £532.4m | £484.9m | £418.8m | £564.0m | £260.2m | £250.3m | £260.7m | £208.7m | £210.9m | £141.9m |
| Debt | £234.5m | £194.9m | £180.3m | £90.4m | £100.0m | £96.5m | £103.0m | £61.2m | £39.4m | −£994,000 |
| Shareholders' equity | £266.8m | £251.5m | £232.6m | £230.7m | £206.5m | £212.8m | £222.4m | £225.4m | £227.0m | £257.7m |
| Shares outstanding | 81m | 81m | 80m | 80m | 80m | 79m | 79m | 79m | 78m | 80m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £107.1m | £108.7m | −£132.5m | £236.2m | £51.3m | £43.4m | £39.0m | £27.5m | £37.4m | £43.4m |
| Capital spending | −£448,000 | −£17.2m | −£12.5m | −£11.0m | −£9.9m | −£10.0m | −£10.3m | −£2.5m | −£1.0m | −£2.1m |
| Free cash flow | £106.6m | £91.6m | −£145.0m | £225.2m | £41.4m | £33.3m | £28.7m | £25.0m | £36.4m | £41.3m |
| Dividends paid | −£75.8m | −£66.4m | −£65.0m | −£50.6m | −£44.8m | −£44.7m | −£42.2m | −£39.7m | −£38.3m | −£37.6m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.20bn | £744.5m | £1.14bn | £697.8m | £1.16bn | £883.6m | £441.8m | £1.91bn |
| Gross profit | £225.9m | £152.0m | £184.6m | £167.8m | £190.2m | £159.4m | £82.5m | £188.9m |
| Operating income | £95.5m | £29.3m | £71.0m | £44.1m | £69.0m | £36.6m | £17.1m | £58.3m |
| Net income | £63.0m | £17.7m | £48.5m | £27.6m | £47.7m | £23.4m | £11.7m | £44.3m |
| Diluted earnings per share | 0.78 | 0.22 | 0.60 | 0.35 | 0.60 | 0.29 | 0.15 | 0.55 |
| Cash from operations | £46.0m | £60.0m | £48.0m | £48.0m | £10.0m | −£143.0m | — | £78.0m |
| Capital spending | — | — | — | — | — | −£6.0m | — | — |
| Free cash flow | — | — | — | — | — | −£149.0m | — | — |
| Total assets | £799.2m | £662.5m | £736.4m | £609.8m | £651.4m | £498.7m | £498.7m | £794.7m |
| Cash and short-term investments | £91.5m | £90.9m | £79.0m | £70.8m | £57.8m | £37.2m | £37.2m | £193.8m |
| Debt | £232.3m | £232.0m | £191.7m | £181.9m | £175.2m | — | £120.1m | £90.2m |
| Shareholders' equity | £266.8m | £231.6m | £251.5m | £228.0m | £232.6m | £220.6m | £220.6m | £230.7m |
Financial ratios
Data as of 5 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 19.5% | 19.5% | 17.4% | 11.9% | 18.3% | 18.8% |
| Operating margin | 6.4% | 6.5% | 5.4% | 3.4% | 5.2% | 5.3% |
| Net margin | 4.2% | 4.1% | 3.5% | 2.8% | 3.7% | 3.8% |
| Return on equity | 30.2% | 30.3% | 30.5% | 29.7% | 17.2% | 15.3% |
| Return on assets | 10.1% | 10.3% | 10.9% | 8.6% | 7.6% | 7.0% |
| Free cash flow yield | 0.1% | 0.2% | -0.2% | 0.3% | 0.1% | 0.1% |
| Revenue growth | 5.6% | -9.9% | -17.6% | 155.8% | 12.3% | -1.7% |
| Earnings growth | 6.0% | 7.1% | 3.8% | 92.9% | 8.9% | -9.3% |
| Current ratio | 1.58x | 1.73x | 1.77x | 1.20x | 1.52x | 1.47x |
| Debt to equity | 0.87x | 0.76x | 0.71x | 0.39x | 0.48x | 0.43x |
| Equity ratio | 33.4% | 34.2% | 35.7% | 29.0% | 44.3% | 46.0% |
| Interest coverage | 8.15x | 9.09x | 11.83x | 16.76x | 18.43x | 19.42x |
| Buybacks as a share of market value | -0.3% | -1.4% | 1.0% | 0.1% | -2.1% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.8% | 17.6% | 10.1% |
| Operating income | 13.8% | 22.9% | 13.0% |
| Net income | 5.6% | 19.9% | 9.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.5% | 16.7% | 17.0% | 17.2% |
| Operating margin | 6.4% | 5.2% | 5.2% | 5.2% |
| Net margin | 4.1% | 3.6% | 3.6% | 3.7% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.5 | 14.4 | 19.2 | 18.9 | 49.7 | 38.3 | 31.4 | 35.7 | 36.8 | 31.4 |
| Price to sales | 0.4 | 0.6 | 0.7 | 0.5 | 1.8 | 1.4 | 1.3 | 1.5 | 1.4 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 26 years. Last went ex-dividend on 6 Aug 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.12 | 0.95 | 0.84 | 0.82 | 0.64 | 0.57 | 0.57 | 0.54 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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