News blog

AIM 50 Digest 30 January 2026

BY: Andrew Hore |
POSTED: 01/02/2026 |

Kitwave Group (KITW) is recommending a 295p/share cash bid from OEP Partners. The bid values the grocery distributor at £251m. The acquirer will support further growth through acquisitions. Interim figures show a 21% increase in revenues to £802.7m, but there was a like-for-like decline of 1%. Underlying operating profit rose 12% to £38m despite the increasing overheads due to higher staff costs. Net debt is £57.3m, down from £63.7m one year earlier. The May 2021 placing price was 150p.
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Big Technologies (BIG) has announced full and final settlement of the Buddi litigation. Certain shareholders in Buddi were wrongly forced to sell their shares and not given a chance to invest in Big Technologies when it was acquired. They will be paid £38.5m with £31.5m payable immediately. There is already a provision of £35m. The electronic monitoring company will have cash of £61.9m after the payment. Mediation continues with former boss Sara Murray. The 2025 group revenues are likely to be slightly better than forecast at £49.7m, down 1%. Annual recurring revenues grew 12% to £52.4m. EBITDA dipped to £24.6m.
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Mixer drinks supplier Fevertree Drinks (FEVR) revenues and EBITDA were marginally better than expected. There was a small dip in UK sales with growth elsewhere, particularly outside of the US and Europe. Overall revenues were 2% higher at £375.3m with the Fevertree brand growing more strongly in the second half. The partnership with Molson Coors will help growth in the US. The full year figures will be published on 24 March.
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Young and Co (YNGA) is planning to move back to the Main Market in the second quarter of 2026. Like-for-like sales in the Christmas and New Year period were 11.2% higher. Managed pub revenues were 5.6% ahead in the 14 weeks to 5 January. Non-exec Ian Dyson bought 4,525 A shares at 872p each and non-exec Torquil Sligo-Young acquired 3,000 A shares at 768.5p each.
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Floorcoverings supplier James Halstead (JHD) sats there was a small reduction in interim revenues due to weak European and Asian markets. New products should boost second half revenues. The interims will be released on 31 March.
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Leisure and ticketing technology supplier accesso Technology (ACSO) is planning a tender offer of up to £14.5m, which will probably be at 300p/share. Last year’s revenues were slightly higher than expected. Net cash was $30m at the end of 2025. A customer has confirmed that it will not renew after the end of January. Costs are being reduced.
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Hargreaves Services (HSP) reported that interim pre-tax profit jumped from £5.3m to £14.3m. The interim dividend was raised from 18.5p/share to 19.5p/share. Cash was £37.3m at the end of November 2025. The company has already secured 90% of forecast services revenues for 2025-26. Cavendish raised its pre-tax profit forecast from £23.9m to £24.7m. A tender offer of £15m is planned and it could be launched in April. There is also room to invest in a new zinc recycling plant.
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Data-led marketing services provider Next 15 Group (NFG) says trading in the year to January 2026 was in line with expectations. This year there should be a like-for-like improvement in revenues and cost cutting, albeit offset by higher investment, will help margins and profit to rise. The business is being restructured to focus on the fastest growing businesses. Richard Griffiths has raised his stake to 9.18%.
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Electrolyser technology developer ITM Power (ITM) increased interim revenues from £15.5m to £18m and the loss was reduced. The cash outflow from operating activities was cut from £27m to £5.92m. Cash was £197.8m at the end of October 2025. The contract backlog is £152m. Full year revenues should be between £35m and £40m and cash should be at least £170m at the end of April 2026.
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Mortgage Advice Bureau (MAB1) increased revenues by 19% to £318m in 2025 and pre-tax profit grew 12% to £35.8m. This was helped by the maturing of fixed rate products. The number of advisers was 10% higher at 2,135 and revenues per adviser were 13% ahead at £157,000. The operating environment is stabilising. The move to the Main Market should be in the second quarter.
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SigmaRoc (SRC) increased 2025 revenues by 4% to £1.04bn, while earnings were 10% ahead of guidance at 10.5p/share, which is 26% ahead of the previous year.
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North Sea oil and gas producer Serica Energy (SQZ) averaged 27,600 boepd in 2025. Capital spending was $250m last year. Cash was $31m at the end of 2025. This year average production is 43,000 boepd. Production could reach 65,000 boepd later this year.
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Renew Holdings (RNWH) says trading in the first quarter has put the engineering services provider on course to achieve full year expectations. The order book is a record £924m.
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Franchise Brands (FRAN) says essential work was resilient, but project work was delayed. This means that 2025 EBITDA will be within guidance of £33.8m to £35.3m. Filta North America increased system sales by 7% due to higher sales of used cooking oil through a combination of price and volume. The non-core B2C division did well. Net debt has fallen to £55.2m. A £10m share buyback is planned.
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In the six months to December 2025, Dotdigital (DOTD) increased annualised recurring revenues by 7% with the contribution from the Social Snowball acquisition taking the increase to 14% to £75.4m. Low margin work has been shed. The full year profit forecast remains at £20m.
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Defence equipment and services provider Cohort (CHRT) has been awarded a £14m contract by the UK government for uncrewed air systems and related services. There is also a £3.9m tactical audio systems contract.
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Fintel (FNTL) acquired Pearson Ham Group’s market pricing business, which provides data to the UK insurance industry for £11m. This will be earnings enhancing next year. Chief executive Matt Timmins and family bought 274,707 shares at prices between 228p and 244.7p each. Chairman Phil Smith bought 77,910 shares and non-exec Ian Pickford’s wife bought 10,444 shares.
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Audio visual products distributor Midwich (MIDW) expects flat revenues of £1.3bn in 2025. Organic revenues fell 1.3%. Pre-tax profit is estimated to be £30m.
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Interim revenues from Craneware (CRW) were 6% ahead at $106m. Annual recurring revenues are $184.3m.
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Niox (NIOX) grew revenues 17% to £48.7m in 2025 with a sharp increase in research revenues. EBITDA is 21% higher at £16.7m. Cash was £19.9m at the end of 2025.
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M and C Saatchi (SAA) says 2025 revenues were 7% lower at £210m. Net cash is £13m.
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Begbies Traynor (BEG) says that the number of businesses in critical financial distress increased 44% to 67,369. All the industries monitored had many more companies in financial distress with consumer sectors the worst.
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Gresham House Asset Management has increased its stake in video games company everplay (EVPL) from 10.1% to 11.1%. This followed a trading statement
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Rockhopper Exploration (RKH) chief executive Sam Moody bought 36,744 shares in the recent open offer.

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