T 
179.80p
+3.10%
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
£481.4m
FY2016FY2025
Net income
−£50.6m
FY2016FY2025
Free cash flow
£34.2m
FY2016FY2025
Shareholders' equity
£147.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £481.4m | £521.1m | £613.9m | £617.0m | £476.2m | £431.8m | £478.2m | £429.5m | £360.0m | £569.9m |
| Gross profit | £110.1m | £109.7m | £147.0m | £135.5m | £115.6m | £99.1m | £116.8m | £110.7m | £92.8m | £108.3m |
| Research and development | £7.6m | £10.7m | £11.0m | £10.1m | £11.1m | £9.2m | £11.5m | £10.2m | £8.7m | £8.7m |
| Operating income | £32.8m | −£23.5m | £8.7m | £38.6m | £19.3m | £6.6m | £18.8m | £16.5m | £20.0m | £27.6m |
| Net income | −£50.6m | −£53.4m | −£6.8m | −£13.2m | £12.8m | £1.3m | £17.3m | £13.4m | £47.7m | £16.7m |
| Diluted earnings per share | -0.28 | -0.30 | -0.04 | -0.08 | 0.07 | 0.01 | 0.08 | 0.08 | 0.28 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £394.0m | £512.3m | £655.1m | £707.2m | £671.4m | £572.8m | £526.8m | £490.8m | £364.6m | £469.4m |
| Cash and short-term investments | £38.7m | £69.2m | £74.1m | £65.0m | £68.3m | £70.2m | £60.2m | £40.6m | £46.5m | £49.8m |
| Total liabilities | £246.5m | £317.4m | £384.6m | £410.2m | £341.4m | £274.8m | £257.9m | £211.3m | £95.8m | £236.0m |
| Debt | £103.4m | £166.6m | £201.3m | £203.4m | £170.8m | £154.1m | £138.9m | £82.3m | £600,000 | £105.2m |
| Shareholders' equity | £147.5m | £194.9m | £270.5m | £297.0m | £328.0m | £296.0m | £266.9m | £277.5m | £266.8m | £231.4m |
| Shares outstanding | 179m | 178m | 177m | 176m | 181m | 165m | 209m | 166m | 168m | 162m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £42.3m | £51.2m | £62.9m | £12.7m | £14.3m | £28.2m | £35.9m | £25.1m | £29.3m | £26.6m |
| Capital spending | −£8.1m | −£6.9m | −£24.5m | −£14.3m | −£17.0m | −£13.4m | −£18.6m | −£19.2m | −£15.1m | −£23.1m |
| Free cash flow | £34.2m | £44.3m | £38.4m | −£1.6m | −£2.7m | £14.8m | £17.3m | £5.9m | £14.2m | £3.5m |
| Dividends paid | — | −£12.2m | −£11.3m | −£10.2m | −£11.4m | −£11.4m | −£10.9m | −£9.7m | −£9.1m | −£8.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £228.1m | £243.5m | £237.9m | £246.7m | £274.4m | £304.8m | £309.1m | £347.8m |
| Gross profit | £57.6m | £63.9m | £46.2m | £46.1m | £62.7m | £72.2m | £72.2m | £72.0m |
| Operating income | £12.8m | £18.6m | −£5.1m | −£38.6m | £15.1m | −£14.2m | £22.9m | £22.3m |
| Net income | £3.5m | −£40.3m | −£10.3m | −£59.4m | £6.0m | −£18.7m | £11.9m | −£17.3m |
| Diluted earnings per share | 0.02 | -0.23 | -0.06 | -0.33 | 0.03 | -0.11 | 0.07 | -0.10 |
| Cash from operations | £6.0m | £30.0m | £12.0m | £42.0m | −£2.0m | £32.0m | £19.0m | £20.0m |
| Capital spending | −£4.0m | −£4.0m | −£3.0m | −£3.0m | −£3.0m | −£14.0m | −£10.0m | −£8.0m |
| Free cash flow | £2.0m | £26.0m | £9.0m | £39.0m | −£5.0m | £18.0m | £9.0m | £12.0m |
| Total assets | £408.2m | £394.0m | £461.0m | £512.3m | £603.4m | £655.1m | £687.9m | £707.2m |
| Cash and short-term investments | £33.3m | £38.7m | £55.7m | £69.2m | £65.1m | £74.1m | £75.4m | £65.0m |
| Debt | £88.8m | £92.6m | £132.6m | £153.3m | £178.5m | £186.9m | £198.0m | £184.7m |
| Shareholders' equity | £154.4m | £147.5m | £176.8m | £194.9m | £266.9m | £270.5m | £287.1m | £297.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.9% | 2.2% | -0.6% |
| Operating income | -5.3% | 37.8% | 7.2% |
| Net income | 56.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.9% | 22.5% | 22.8% | 22.6% |
| Operating margin | 0.9% | 2.5% | 2.6% | 3.3% |
| Net margin | -10.4% | -5.6% | -3.5% | -0.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.0 | -3.5 | -40.6 | -23.2 | 36.2 | 259.4 | 30.3 | 24.3 | 7.9 | 15.8 |
| Price to sales | 0.4 | 0.4 | 0.5 | 0.5 | 1.0 | 0.8 | 1.1 | 0.8 | 1.1 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Sept 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.069 | 0.065 | 0.058 | 0.065 | 0.067 | 0.06 | 0.057 | 0.055 |
- 3-for-2 split · 28 Oct 1994
- 2-for-1 split · 22 May 1989
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.