W 
395.50p
+1.41%
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.
Net income
£113.4m
FY2017FY2026
Free cash flow
−£6.6m
FY2017FY2026
Shareholders' equity
£1.39bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating income | £118.9m | −£209.2m | £204.0m | £15.6m | −£130.7m | £486.2m | £101.8m | £172.2m | £30.3m | £250.3m |
| Net income | £113.4m | −£209.8m | £201.2m | −£8.8m | −£141.5m | £477.0m | £90.8m | £166.2m | £27.2m | £248.4m |
| Diluted earnings per share | 0.28 | -0.45 | 0.38 | -0.02 | -0.22 | 0.73 | 0.15 | 0.31 | 0.05 | 0.51 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.43bn | £1.78bn | £2.19bn | £2.25bn | £2.42bn | £2.48bn | £1.70bn | £1.45bn | £1.21bn | £1.21bn |
| Cash and short-term investments | £70.8m | £93.6m | £73.8m | £58.9m | £26.6m | £29.6m | £3.8m | £49.0m | £9.9m | £10.8m |
| Total liabilities | £45.6m | £97.4m | £112.8m | £99.2m | £153.2m | £101.2m | £164.7m | £21.7m | £108.9m | £108.9m |
| Debt | £18.9m | £68.1m | £68.9m | £55.9m | £113.6m | £49.9m | £154.3m | — | £98.3m | £98.3m |
| Shareholders' equity | £1.39bn | £1.68bn | £2.08bn | £2.15bn | £2.27bn | £2.38bn | £1.54bn | £1.43bn | £1.10bn | £1.10bn |
| Shares outstanding | 402m | 461m | 531m | 565m | 639m | 655m | 621m | 533m | 519m | 490m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£3.3m | −£1.5m | £2.3m | £5.4m | −£13.3m | £931,000 | £2.1m | £2.1m | £2.1m | — |
| Capital spending | −£3.3m | — | — | — | — | — | — | — | — | — |
| Free cash flow | −£6.6m | −£1.5m | £2.3m | £5.4m | −£13.3m | £931,000 | £2.1m | £2.1m | £2.1m | — |
| Dividends paid | −£10.9m | −£14.8m | −£18.7m | −£17.2m | −£14.7m | −£14.5m | −£14.0m | −£14.0m | −£14.0m | — |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | £67.8m | £51.0m | −£204.5m | £2.6m | £212.1m | £112.6m | −£7.5m | −£3.8m |
| Net income | £66.4m | £46.9m | −£215.4m | £5.6m | £221.9m | £110.9m | −£20.7m | −£10.4m |
| Diluted earnings per share | 0.17 | 0.10 | -0.47 | 0.01 | 0.42 | 0.20 | -0.04 | -0.02 |
| Cash from operations | — | −£3.0m | — | −£4.0m | −£2.0m | −£1.0m | — | £2.0m |
| Total assets | £1.43bn | £1.52bn | £1.78bn | £2.12bn | £2.19bn | £2.19bn | £2.19bn | £2.19bn |
| Cash and short-term investments | £70.8m | £31.3m | £93.6m | £41.5m | £73.8m | £73.8m | £43.6m | £43.6m |
| Debt | £18.9m | — | — | — | £68.9m | £68.9m | — | — |
| Shareholders' equity | £1.39bn | £1.44bn | £1.68bn | £1.98bn | £2.08bn | £2.08bn | £1.98bn | £1.98bn |
Financial ratios
Data as of 3 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 948.4% | 105.6% | 179.3% | -700.2% | 98.4% | 100.4% | — |
| Net margin | 904.5% | 105.9% | 85.5% | 393.5% | 106.8% | 98.5% | — |
| Return on equity | 8.2% | -12.5% | 9.7% | -0.4% | -6.2% | 20.0% | — |
| Return on assets | 7.9% | -11.8% | 9.2% | -0.4% | -5.8% | 19.2% | — |
| Free cash flow yield | 0.0% | — | — | — | — | — | — |
| Revenue growth | -106.3% | -184.2% | -10632.6% | -98.3% | -127.3% | 403.2% | — |
| Earnings growth | -154.0% | -204.3% | -2389.3% | -93.8% | -129.7% | 425.5% | — |
| Current ratio | 6.31x | 24.69x | 0.74x | 0.64x | 0.27x | 0.47x | — |
| Debt to equity | 0.01x | — | 0.03x | 0.03x | 0.05x | 0.02x | 0.10x |
| Equity ratio | 96.8% | 94.5% | 94.9% | 95.6% | 93.7% | 95.9% | — |
| Interest coverage | 47.02x | -29.54x | 51.90x | 4.06x | -162.75x | 1218.56x | — |
| Buybacks as a share of market value | 12.9% | 13.2% | 5.9% | 11.6% | 2.5% | -5.6% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | -51.9% | — |
| Operating income | 96.6% | -24.6% | — |
| Net income | — | -25.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 48.7% | 272.7% | 121.4% | 109.9% |
| Net margin | 52.0% | 202.3% | 108.0% | 101.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.2 | -8.2 | 8.3 | -199.8 | -14.6 | 5.0 | 25.5 | 10.0 | 45.6 | 5.0 |
| Price to sales | 128.1 | -8.7 | 7.1 | -786.4 | -15.6 | 4.9 | 24.0 | 9.7 | 38.5 | 4.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 30 years. Last went ex-dividend on 11 Jun 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.017 | 2.40 | 0.721 | 0.724 | 2.65 | 2.25 | 2.50 | 0.67 |
- 10-for-1 split · 27 Jul 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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