Y 
1,795.00p
+1.13%
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
£700.4m
FY2016FY2025
Net income
£35.9m
FY2016FY2025
Free cash flow
£29.7m
FY2016FY2025
Shareholders' equity
£97.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £700.4m | £645.5m | £460.0m | £278.6m | £155.4m | £101.5m | £111.6m | £80.6m | £45.6m | £16.3m |
| Gross profit | £100.1m | £93.9m | £83.0m | £44.1m | £15.2m | £7.7m | £5.5m | £3.2m | £6.8m | £3.4m |
| Operating income | £64.0m | £40.9m | £38.1m | £5.9m | £3.5m | −£1.6m | −£5.0m | −£9.6m | £784,000 | −£1.5m |
| Net income | £35.9m | £33.5m | £30.9m | £4.8m | £4.5m | −£1.2m | −£5.0m | −£6.3m | £711,000 | −£1.4m |
| Diluted earnings per share | 2.05 | 1.86 | 1.70 | 0.25 | 0.26 | -0.06 | -0.31 | -0.44 | 0.05 | -0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £274.9m | £214.5m | £176.3m | £88.9m | £59.6m | £37.1m | £33.8m | £32.0m | £17.2m | £10.8m |
| Cash and short-term investments | £105.9m | £85.2m | £32.5m | £19.0m | £7.0m | £11.7m | £2.4m | £14.6m | £4.9m | £5.2m |
| Total liabilities | £177.1m | £144.1m | £129.5m | £74.1m | £50.3m | £32.5m | £28.5m | £21.5m | £10.8m | £5.4m |
| Debt | £11.2m | £6.8m | £2.0m | £160,000 | £267,000 | £368,000 | £597,000 | — | — | — |
| Shareholders' equity | £97.8m | £70.3m | £46.8m | £14.8m | £9.3m | £4.5m | £5.3m | £10.4m | £6.4m | £5.4m |
| Shares outstanding | 18m | 18m | 18m | 19m | 17m | 18m | 16m | 14m | 15m | 14m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £36.3m | £72.1m | £16.1m | £14.7m | −£774,000 | £12.1m | −£11.3m | −£1.3m | £533,000 | −£870,000 |
| Capital spending | −£6.6m | −£9.7m | −£1.5m | −£215,000 | −£2.6m | −£921,000 | −£565,000 | −£147,000 | −£541,000 | −£162,000 |
| Free cash flow | £29.7m | £62.4m | £14.6m | £14.5m | −£3.4m | £11.2m | −£11.8m | −£1.5m | −£8,000 | −£1.0m |
| Dividends paid | −£10.6m | −£9.4m | −£1.0m | — | — | — | −£195,000 | −£466,000 | −£316,000 | −£316,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £405.4m | £359.4m | £179.7m | £170.5m | £170.5m | £166.4m | £166.4m | £156.3m |
| Gross profit | £49.4m | £52.4m | £26.9m | £23.1m | £23.1m | £25.5m | £25.5m | £21.4m |
| Operating income | £30.6m | £33.5m | £12.2m | £10.3m | £10.3m | £11.5m | £11.5m | £9.0m |
| Net income | £15.9m | £19.4m | £9.7m | £8.3m | £8.3m | £9.4m | £9.4m | £7.3m |
| Diluted earnings per share | 0.92 | 1.11 | 0.55 | 0.47 | 0.47 | 0.52 | 0.52 | 0.41 |
| Cash from operations | £37.0m | −£3.0m | −£1.0m | £19.0m | £19.0m | £1.0m | £1.0m | £34.0m |
| Capital spending | −£2.0m | −£2.0m | −£1.0m | −£1.0m | −£1.0m | −£3.0m | −£3.0m | −£1.0m |
| Free cash flow | £35.0m | −£5.0m | −£2.0m | £18.0m | £18.0m | −£2.0m | −£2.0m | £33.0m |
| Total assets | £314.0m | £274.9m | £274.9m | £245.4m | £245.4m | £214.5m | £214.5m | £189.4m |
| Cash and short-term investments | £128.7m | £105.9m | £105.9m | £118.2m | £118.2m | £85.2m | £85.2m | £89.4m |
| Debt | £14.1m | £11.0m | £1.2m | £949,000 | £949,000 | £5.9m | £1.1m | £3.5m |
| Shareholders' equity | £102.5m | £97.8m | £97.8m | £81.0m | £81.0m | £70.3m | £70.3m | £52.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 36.0% | 47.1% | 70.7% |
| Operating income | 121.0% | — | — |
| Net income | 96.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.4% | 15.4% | 14.7% | 14.0% |
| Operating margin | 7.8% | 7.1% | 6.4% | 5.2% |
| Net margin | 5.2% | 5.0% | 4.6% | 3.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 7.4 | 9.7 | 7.2 | 20.4 | 8.7 | -15.6 | -2.9 | -1.7 | 34.0 | -6.7 |
| Price to sales | 0.4 | 0.5 | 0.5 | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.5 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 28 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.45 | 0.63 | 0.56 | 0.06 | 0.032 | 0.025 | 0.008 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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