£'m
H1 2026
H1 2025
H1 2026 vs H1 2025
Manufacturing services
43.1
36.0
7.1
Development services
27.1
26.9
0.2
Procurement services
8.4
8.6
(0.2)
Licences, milestones and royalties
1.2
1.7
(0.5)
Revenue
79.8
73.2
6.6
Cost of sales
50.7
41.6
9.1
Gross Margin
37%
43%

Operating EBITDA1
(7.8)
(8.3)
0.5




Revenue CC2
80.2
73.4

Operating EBITDA ADJ3
(2.5)
(3.9)