W 
109.00p
+4.31%
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
£260.0m
FY2017FY2026
Net income
£1.4m
FY2017FY2026
Free cash flow
£23.3m
FY2017FY2026
Shareholders' equity
£17.3m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £260.0m | £277.0m | £282.6m | £280.1m | £264.6m | £180.7m | £225.0m | £217.5m | £192.1m | £166.4m |
| Gross profit | £51.5m | £53.8m | £51.8m | £43.9m | £55.0m | £19.9m | £31.4m | £36.6m | £32.4m | £26.7m |
| Research and development | — | — | — | £5.49bn | £5.02bn | £4.79bn | £4.57bn | — | — | — |
| Operating income | £12.1m | £13.1m | £11.4m | £9.4m | £19.4m | £2.7m | −£13.5m | £6.7m | £8.4m | £6.9m |
| Net income | £1.4m | £8.2m | £6.4m | £5.3m | £14.0m | −£2.3m | −£17.7m | £1.1m | £1.8m | £1.3m |
| Diluted earnings per share | 0.02 | 0.14 | 0.10 | 0.00 | 0.00 | -0.04 | -0.28 | 0.02 | 0.03 | 0.02 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £130.7m | £127.0m | £118.8m | £137.3m | £149.3m | £180.4m | £186.3m | £86.2m | £83.7m | £72.3m |
| Cash and short-term investments | £3.6m | £4.1m | £1.6m | £10.2m | £16.3m | £8.3m | £6.5m | £3.7m | £7.4m | £4.1m |
| Total liabilities | £113.1m | £111.1m | £108.7m | £135.6m | £149.0m | £171.6m | £172.9m | £47.9m | £75.8m | £66.1m |
| Debt | £81.9m | £74.9m | £77.8m | £98.2m | £111.1m | £143.0m | £145.7m | £633,000 | £31.5m | £31.0m |
| Shareholders' equity | £17.3m | £15.8m | £10.1m | £1.7m | £378,000 | £8.8m | £13.4m | £38.3m | £8.0m | £6.2m |
| Shares outstanding | 63m | 59m | 61m | 4,116m | 4,091m | 63m | 63m | 63m | 60m | 63m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £29.5m | £33.5m | £25.2m | £29.2m | £49.2m | £30.1m | £23.9m | £8.1m | £10.9m | £9.0m |
| Capital spending | −£6.2m | −£5.9m | −£7.3m | −£8.6m | −£3.0m | −£2.4m | −£8.7m | −£8.2m | −£7.5m | −£11.3m |
| Free cash flow | £23.3m | £27.6m | £17.9m | £20.6m | £46.2m | £27.7m | £15.3m | −£19,000 | £3.5m | −£2.3m |
| Dividends paid | — | — | — | −£1.5m | −£4.00bn | −£3.98bn | −£2.3m | −£750,000 | −£750,000 | −£750,000 |
Latest quarters
By quarter end
| Apr 2026 | Oct 2025 | Apr 2025 | Oct 2024 | Apr 2024 | Dec 2023 | Oct 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £136.2m | £123.8m | £152.8m | £124.2m | £160.0m | £8.05bn | £122.6m | £7.18bn |
| Gross profit | £34.0m | £17.5m | £33.5m | £15.8m | £35.1m | £5.72bn | £15.6m | £5.28bn |
| Operating income | £14.4m | −£2.3m | £13.4m | −£4.1m | £13.3m | £1.14bn | −£5.4m | £2.05bn |
| Net income | £6.8m | −£5.4m | £14.4m | −£6.2m | £17.4m | £350.0m | −£11.0m | £1.62bn |
| Diluted earnings per share | 0.11 | -0.09 | 0.24 | -0.10 | 0.28 | 0.09 | -0.00 | 0.39 |
| Cash from operations | £23.0m | £6.0m | £28.0m | £4.0m | £20.0m | — | £4.0m | — |
| Capital spending | −£2.0m | −£3.0m | −£2.0m | −£1.0m | −£2.0m | — | −£3.0m | — |
| Free cash flow | £21.0m | £3.0m | £26.0m | £3.0m | £18.0m | — | £1.0m | — |
| Total assets | £130.7m | £149.5m | £127.0m | £145.0m | £118.8m | £59.01bn | £147.0m | £59.46bn |
| Cash and short-term investments | £3.6m | £3.7m | £4.1m | £522,000 | £1.6m | £5.18bn | £2.5m | £6.50bn |
| Debt | £18.2m | £68.6m | £56.3m | £67.7m | £57.8m | — | £27.1m | — |
| Shareholders' equity | £17.3m | £12.5m | £15.8m | £3.5m | £10.1m | £13.35bn | −£8.1m | £12.69bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.4% | 7.6% | 5.4% |
| Operating income | 8.6% | 35.2% | 1.8% |
| Net income | -35.5% | — | -11.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.6% | 18.3% | 17.9% | 17.3% |
| Operating margin | 4.7% | 4.2% | 4.4% | 3.5% |
| Net margin | 1.8% | 1.9% | 2.1% | 1.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 46.7 | 2.5 | 1.9 | 215.5 | 102.3 | -14.7 | -1.2 | 16.2 | 26.5 |
| Price to sales | 0.3 | 0.1 | 0.0 | 4.1 | 5.4 | 0.2 | 0.1 | 0.1 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 5 Oct 2023.
| FY2024 | FY2023 | FY2020 | FY2019 | |
|---|---|---|---|---|
| Paid in the year | 0.016 | 0.024 | 0.036 | 0.012 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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