News blog
AIM 50 Digest 4 July 2025
- BY: Andrew Hore |
- POSTED: 07/07/2025 |
Grocery and catering wholesaler Kitwave Group (KITW) reported a 27% rise is interim revenues to £376.2m. Most of the growth came from the Creed acquisition, but there was organic growth. Pre-tax profit was flat at £8.5m. The grocery retail side is still going steadily, but the catering and leisure business has been hit by the weak economy and that will be a greater factor in the second half. Business has been retained when retendered, but at lower margins. Normally, the hot summer weather would have helped sales, but this has not been happening with people less willing to spend on food and drink when they go out. Canaccord Genuity has cut its 2024-25 pre-tax profit forecast from £35.5m to £29.1m.
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Electrical connectors supplier Volex (VLX) reported better than expected results for the year to March 2025. Revenues were 19% ahead at $1.09bn and underlying profit rose 18% to $106.2m. There was a strong recovery in electric vehicles revenues and three other parts of the business grew organically – in some cases due to the ending of destocking. One-off revenues in the previous year mean that there was a small dip in medical revenues. Growth is continuing into the new financial year and exposure to tariffs is limited.
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Marketing services provider Next Fifteen (NFG) says that revenues are holding up, but the mix of business has hit margins. H2 Radnor has cut its 2025-26 pre-tax profit by 23% to £63m on a 2% reduction in forecast revenues. Next 15 is considering sell some of its brands. Earn out payments to Mach49 vendors have been suspended because of evidence of irregularities. Chief executive Tim Dyson has stepped down after 33 years in the business.
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Digital and social media services provider Dotdigital (DOTD) is paying up to $35m to acquire Social Snowball, which provides an influencer, affiliate and referral marketing platform. Advertisers are switching spending to influencers. This acquisition will broaden the range of services offered by Dotdigital and help to enhance average revenues per user. Social Snowball is generating annual revenues of $5m and has become cash generative. The initial cash payment is $20m with performance related consideration of up to $15m. The deal should be earnings enhancing in 2026-27.
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Central Asia Metals (CAML) has increased its cash offer for New World Resources for a third time. It is A$0.062/share, which values the target at A$230m. This follows market purchases at the higher price.
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Current trading at AB Dynamics (ABDP) says third quarter is in line with expectations. Full year operating profit is forecast to be around £22.3m. Net cash was £31.2m at the end of May 2025.
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In the six months to April 2025, public sector and engineering software supplier Idox (IDOX) increased profit by 14% to £6.4m on revenues 4% ahead at £45m. Order intake was 9% higher at £58.7m. Net cash was £200,000 at the end of April 2025. Idox has £110m of available facilities to finance acquisitions. The latest acquisition is Pilanz, which provides social care software and increases exposure to this local government sub-sector. Geospatial services remain a focus of expansion. Idox is expected to make a 2024-25 pre-tax profit of £16.1m.
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Cavendish has upgraded its forecasts for Hargreaves Services (HSP) following a trading statement saying results will be better than expected. The 2024-25 pre-tax profit forecast has been raised from £16.4m to £17.4m. following a strong performance from the services division. The 2025-26 figure has been raised from £20.2m to £21.2m and that does not include the potential disposal gains from renewable energy assets. Net debt is higher than expected at £23.3m.
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Iain Evans is replacing Gavin Rochussen as chief executive of Polar Capital (POLR). The fund manager had assets under management of £22.9bn at the end of March 2025. Full year pre-tax profit fell 6% to £51.6m. The total dividend is maintained at 46p/share.
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Interim figures from LBG Media (LBG) show revenues 13% higher at £43.9m. Pre-tax profit has jumped from £3.3m to £8.6m. Full year constant currency revenues growth of 10% is still anticipated.
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RWS (RWS) has acquired the IP of Papercup’s AI dubbing technology. This is part of the strategy to embed AI in the group’s technology.
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Serica Energy (SQZ) says that production has resumed at the Triton FPSO. Finance director Martin Copeland bought 45,000 shares at 161.4p each.
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Defence company Cohort (CHRT) won company of the year at the Small Cap Awards and chief executive Andrew Thomis was named executive of the year. MP Evans (MPE) was dividend hero of the year.
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Victoria Plumbing (VIC) chair Philip Bowcock sold 181,000 shares at 76.21p each. This is to pay tax on a previous hare award.
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Pan African Resources (PAF) has launched its £8.2m share buyback.
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Franchise Brands (FRAN) has been admitted to the FTSE AIM UK 50 index.
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ITM Power (ITM) says that its electrolysis technology had been selected for UK projects.
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