Z 
457.50p
-0.97%
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
£158.5m
FY2016FY2025
Net income
£22.6m
FY2016FY2025
Free cash flow
£21.5m
FY2016FY2025
Shareholders' equity
£130.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £158.5m | £147.8m | £127.0m | £127.4m | £100.8m | £82.7m | £80.9m | £81.0m | £70.1m | £57.4m |
| Gross profit | £52.9m | £46.1m | £41.1m | £38.7m | £26.6m | £27.8m | £28.6m | £29.0m | £25.5m | £20.3m |
| Research and development | £1.6m | £1.0m | £921,000 | £74,000 | £179,000 | £1.4m | £1.2m | £1.5m | £1.5m | £1.2m |
| Operating income | £22.6m | £3.0m | £15.1m | £13.9m | £8.1m | £9.1m | £10.0m | £10.5m | £9.2m | £7.5m |
| Net income | £22.6m | −£2.8m | £9.2m | £10.0m | £4.4m | £7.2m | £8.2m | £7.9m | £6.0m | £5.8m |
| Diluted earnings per share | 0.45 | -0.06 | 0.18 | 0.20 | 0.09 | 0.15 | 0.17 | 0.16 | 0.14 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £227.1m | £174.7m | £175.6m | £170.4m | £159.4m | £158.2m | £144.4m | £126.9m | £100.3m | £91.5m |
| Cash and short-term investments | £14.0m | £10.5m | £6.3m | £10.6m | £8.1m | £8.5m | £6.7m | £7.1m | £4.4m | £2.9m |
| Total liabilities | £97.0m | £65.4m | £59.8m | £60.8m | £61.6m | £63.8m | £54.8m | £41.8m | £41.2m | £35.1m |
| Debt | £57.0m | £43.6m | £37.9m | £38.4m | £42.4m | £44.1m | £38.6m | £20.0m | £22.3m | £15.4m |
| Shareholders' equity | £130.1m | £109.4m | £115.8m | £109.5m | £97.8m | £94.4m | £89.6m | £85.1m | £59.1m | £56.4m |
| Shares outstanding | 51m | 49m | 50m | 49m | 49m | 49m | 49m | 48m | 44m | 44m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £35.5m | £25.0m | £7.8m | £21.1m | £10.9m | £11.4m | £9.3m | £4.5m | £8.7m | £5.2m |
| Capital spending | −£14.0m | −£13.6m | −£8.5m | −£7.1m | −£7.1m | −£12.7m | −£24.4m | −£15.8m | −£11.4m | −£12.1m |
| Free cash flow | £21.5m | £11.4m | −£702,000 | £14.0m | £3.8m | −£1.3m | −£15.0m | −£11.3m | −£2.7m | −£7.0m |
| Dividends paid | −£3.7m | −£3.5m | −£3.4m | −£3.2m | −£3.1m | −£977,000 | −£3.0m | −£2.7m | −£2.5m | −£2.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £95.2m | £81.1m | £77.4m | £76.7m | £71.1m | £62.3m | £64.6m | £68.3m |
| Gross profit | £33.9m | £26.1m | £26.8m | £22.6m | £23.6m | £19.8m | £21.2m | £21.7m |
| Operating income | £14.7m | £10.3m | £12.2m | £6.9m | £9.6m | £6.4m | £8.9m | £9.8m |
| Net income | £11.6m | £12.9m | £9.8m | −£9.0m | £6.3m | £3.7m | £5.6m | £5.4m |
| Diluted earnings per share | 0.23 | 0.25 | 0.19 | -0.19 | 0.13 | 0.07 | 0.11 | 0.11 |
| Cash from operations | £6.0m | £21.0m | £13.0m | £19.0m | £6.0m | £3.0m | £3.0m | £16.0m |
| Capital spending | −£7.0m | −£5.0m | −£8.0m | −£4.0m | −£6.0m | −£5.0m | −£2.0m | −£3.0m |
| Free cash flow | −£1.0m | £16.0m | £5.0m | £15.0m | £0 | −£2.0m | £1.0m | £13.0m |
| Total assets | £241.4m | £227.1m | £178.7m | £174.7m | £196.6m | £175.6m | £172.4m | £170.4m |
| Cash and short-term investments | £13.0m | £14.0m | £8.3m | £10.5m | £7.9m | £6.3m | £8.5m | £10.6m |
| Debt | £55.0m | £48.3m | £31.5m | £36.7m | £45.0m | £37.0m | £35.9m | £38.0m |
| Shareholders' equity | £139.1m | £130.1m | £118.0m | £109.4m | £120.3m | £115.8m | £113.0m | £109.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.6% | 13.9% | 11.4% |
| Operating income | 17.5% | 19.9% | 13.9% |
| Net income | 31.3% | 25.9% | 16.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 32.3% | 31.9% | 31.3% | 32.5% |
| Operating margin | 8.3% | 9.7% | 9.7% | 10.6% |
| Net margin | 6.5% | 7.0% | 6.8% | 7.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.0 | -57.3 | 18.8 | 16.7 | 44.4 | 25.4 | 26.1 | 27.7 | 21.4 | 12.2 |
| Price to sales | 1.3 | 1.1 | 1.4 | 1.3 | 1.9 | 2.2 | 2.6 | 2.7 | 1.8 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 31 years. Last went ex-dividend on 3 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.08 | 0.076 | 0.073 | 0.069 | 0.066 | 0.064 | 0.02 | 0.062 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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