News blog

AIM 50 Digest 25 April 2025

BY: Andrew Hore |
POSTED: 27/04/2025 |

RWS (LON: RWS) chief executive Benjamin Faes has bought one million shares at 67.9p each following yesterday’s profit warning. Interim pre-tax profit is expected to slump from £46m to £17m and pre-tax profit guidance for 2024-25 is £60m-£70m. Consensus pre-tax profit had been £97.4m. There was 1% organic constant currency growth in interim revenues, although reported revenues will be slightly lower at £344m, and there should be growth in the full year. Three of the four divisions should grow this year. Regulated industries revenues fell because of delays to life sciences client work and that hit profit margins. The transfer of clients to automated models is adding short-term costs. Interim results will be published on 17 June.
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Pantheon Resources (PANR) says there were no signs of hydrocarbons at the first test zone of the Megrez well in Alaska. Pantheon Resources has tried to put a positive spin on the results by suggesting that higher hydrocarbon saturations and mobile oil in the shallower test zones. There will be a pause before the second test.
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Marketing services provider Next 15 (NFG) reported a 1% dip in net revenues and a 14% decline in underlying pre-tax profit in the year to January 2025. There was still £96m of cash generated from operations, which helped to finance £60m of contingent consideration payments. The dividend is maintained at 15.35p/share. Annualised savings of £45m have been made with most of this yet to show through in the results. Management describes trading as resilient.
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ITM Power (ITM) has raised guidance for the year to April 2025. Revenues are expected to be between £25.5m and £26.5m, compared with the previous range of £18m to £22m. Contract obligations have been achieved early enough to recognise revenues this year. Cash has been generated in the second half and cash should be up to £205m at the end of April 2025, up from £203m in October 2024. A decline had been expected. The EBITDA loss is still expected to be between £32m and £36m.
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Soft drinks maker Nichols (NICL) says UK trading is strong and there is limited exposure to tariffs with US sales less than 2% of the group total. Out of Home sales are recovering. This will help group margins to improve.
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Automotive testing services provider AB Dynamics (ABDP) increased interim revenues by 11% to £58m, while underlying earnings were 20% ahead at 37p/share. Net cash is £27.2m. The interim dividend was raised by one-fifth to 2.8p/share. The outlook is positive, but there are concerns about tariffs.
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Guidance has been raised at building products distributor Brickability (BRCK) due to a strong finish to the year to March 2025. Revenues have been upgraded from £630.5m to £637m, while pre-tax profit has been raised from £36.9m to £38m.
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MP Evans (MPE) is acquiring two Indonesian plantation companies for $34.2m. The purchase should be completed in the third quarter. The plantations produced 50,300 tonnes of palm oil and the plants are relatively immature. The cost is equivalent to $12,500/planted hectare.
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CVS Group (CVSG) is selling its crematorium operations to Anima Care UK for £42.4m, which is ten times their EBITDA contribution. The cash will reduce debt and enable further spending on vet practices in the UK and Australia.
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Tatton Asset Management (TAM) has added a further £1.9bn to assets under management in the second half. Assets under management were £20.9bn at the end of March 2025.
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The 2024 revenues of accesso Technologies (ACSO) were in line with guidance at $152.3m. Pre-tax profit improved from $8.8m to $11.7m. Net cash was $28.7m at the end of 2024. Transactional revenues are becoming more difficult to predict as current economic conditions could delay client decisions. There is also concern about movements in currencies.
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Identity and verification software provider GB Group (LON: GBG) says full year revenues will improve from £277.3m to at least £283m. The fastest growth was in location services, while fraud prevention revenues declined 4%. Operating profit should be 10% ahead at £67m. Net debt should reduce to £48.5m at the end of March 2025. In the new year, the company will market itself as one brand. A £10m share buy back programmed has commenced.
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SigmaRoc (SRC) has signed an agreement with Adaptavate, which is developing low carbon building materials. The agreement covers wallboard. SigmaRoc invested in the £2.7m fundraising by Adaptavate.
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There has been positive news for Impax Asset Management (IPX) concerning the management of a fund for BNP Paribas, which is a 13.8% shareholder in the company.
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Niox Group (NIOX) has declared a dividend of 1.25p/share following the decision by Keensight Capital not to make an offer. Net cash was £15.4m at the end of March 2025.
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Gamma Communications (GAMA) has published the prospectus for the move to the Main Market on 2 May.
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Volex (VLX) directors have been buying shares following the trading statement earlier in April. Executive chairman Lord Rothschild bought 14,841 shares at an average share price of 224.5p. He owns 25.4%. Chief operating officer John Molloy bought 66,809 shares at an average price of 223.27p each. He owns 1.29%. Fintel (FNTL) non-exec Ken Davy bought 25,000 shares at 232.5p each and 25,000 shares at 231.0228p each, taking his stake to 23.9%. A related party to joint chief executive Matt Timmins acquired 114,401 shares at prices between 220p and 300p each. Newly appointed Dotdigital (DOTD) finance director Tom Mullan bought an initial 27,096 shares at 73.8094p each. James Halstead (JHD) non-exec Russell Whiting bought 14,363 shares at 139p each.

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