News blog

AIM 50 Digest 1 August 2025

BY: Andrew Hore |
POSTED: 03/08/2025 |

Soft drinks maker Nichols (NICL) continues to benefit from the restructuring of its out of home business, while a change in strategy improved international margins. Group revenues were 2% ahead at £85.5m, while pre-tax profit edged up from £14.5m to £14.6m. That is before £3.2m of exceptional costs of IT and restructuring the business. Net cash improved over six months to £61.6m. The interim dividend is 15p/share and there is a special dividend of 54.8p/share. Full year pre-tax profit of £33m is forecast.
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Rockhopper Exploration (RKH) announced a conditional two tranche placing to raise $140m at 53p/share to finance phase one of the Sea Lion prospect offshore, Falkland Islands. There are plans for seven oil producer wells, plus gas and water injector wells. Rockhopper Exploration has to fund $102m of the phase one spending, including provision for cost overruns, as well as $25m of decommissioning funding. Every four shares come with one warrant exercisable at 80p/share. There will also be an open offer to raise a further $9.2m. The second phase should be funded by production revenues from the first phase.
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Full year figures from Hargreaves Services (HSP) were slightly ahead of expectations. In the year to May 2025, revenues improved from £211.1m to £264.4m. Although revenues from land sales were higher, there was a lower profit contribution. Higher contribution from the rest of the business more than offset that. Pre-tax profit improved from £16.9m to £17.6m. Net debt was £9.5m at the end of May 2025. The total dividend was 1p/share higher at 37p/share.
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Floorcoverings supplier James Halstead (JHD) says revenues were flat in the year to May 2025. US revenues are strong, but Europe was weaker. Panmure Liberum has trimmed its pre-tax profit forecast from £57.4m to £55.5m, which is slightly lower than the previous year. Net cash is £73m. The total dividend should be 6.05p/share.
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Digital and social media services provider Dotdigital (DOTD) lost a significant contract and that meant that full year revenues are going to be slightly lower than forecast at around £83.9m. Organic growth was 7%. However, pre-tax profit is in line with expectations at more than £18m. Net cash is £36.2m.
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A strengthening housing market helped Mortgage Advice Bureau (MAB1) improve interim revenues by 19% to £147m, while pre-tax profit improved from £12.3m to £14m. The period benefited from transactions being completed ahead of stamp duty changes at the end of March. There is still a gradual recovery in the housing market.
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MP Evans (MPE) increased its oil palm production in the first half and purchased less independent crop to keep up the quality of mill inputs. Overall crude palm oil production fell from 177,000 litres to 172,800 litres. However, the crude palm oil price has risen to more than offset that decline.
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Financial intermediary services provider Fintel (FNTL) increased interim revenues by 19% to £42.4m. Net debt was £32m at the end of June 2025. The EBITDA margin declined, but EBITDA rose 17% to £11.2m.
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CVS Group (CVSG) increased full year revenues by 5% to £673.2m, while like-for-like revenues were lightly ahead. The final quarter was stronger. EBITDA should rise from £123m to £134m. The company continues to buy vet practices in Australia, partly funded by the disposal of crematoria operations.
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Identity software provider GB Group (GBG) has launched a £25m share buyback. GB Group expects to move back to the Main Market in early November. Trading is in line with expectations.
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Audio visual products distributor Midwich Group (MIDW) is trading in line with revised expectations. Interim revenues fell by around 4% to £620m. The decline came outside of the UK, which grew by 5%. Underlying pre-tax profit is expected to slump from £17.2m to £9.5m. Cost reductions will lead to a one-off charge of £2m. Net debt was £148m at the end of June 2025.
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Franchise Brands (FRAN) has been hit by weak discretionary spending. Interim revenues were flat at £70.4m, although pre-tax profit was 10% higher at £11.7m. Net debt was £62m at the end of June 2025. The interim dividend has been raised by 5% to 1.15p/share. Allenby has reduced its 2025 forecast revenues to £427.3m and cut the pre-tax profit estimate from £27.3m to £23.5m.
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Electronic monitoring company Big Technologies (BIG) reported a dip in interim revenues from £26.5m to £24.8m. Two new contracts start in the second half. Net cash is £94.9m.
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Central Asia Metals (CAML) has decided not to increase its offer for New World Resources to counter the Kinterra offer of A$0.066/share. A break fee will be payable to Central Asia Metals.
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Lime and building materials supplier SigmaRoc (SRC) is on course to meet expectations for 2025. Like-for-like interim revenues were 1% lower at £510m and volumes fell by a greater percentage. Profit is improving, though, as cost savings show through. Full year pre-tax profit is expected to rise from £117.6m to £141m.
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Pantheon Resources (PANR) has spudded the Dubhe-1 well in the Ahpun field in Alaska. This will encounter three exploration horizons that have not yet had a resource estimate.
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Serica Energy (SQZ) says that the ramp up of production at the restarted Triton FPSO has been slower than anticipated. Remedial work has been completed. Production should reach a stable level in August. The group production guidance for 2025 has been narrowed to 33,000-35,000 barrels of oil equivalent/day.
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Jet2 (JET2) has launched the second tranche of its buyback programme of up to £125m.
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Johnson Service Group (JSG) moved to the Main Market on 1 August.

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