News blog

AIM 50 Digest 5 December 2025

BY: Andrew Hore |
POSTED: 08/12/2025 |

Engineering services provider Renew (RNWH) managed to negotiate weaker demand for rail services and still improve operating profit, although higher interest costs meant underlying pre-tax profit dipped from £69.9m to £68.1m. Electricity and renewables services acquisitions added to the figures. Electricity transmission and water services provide significant potential growth. Net cash was £6.2m at the end of September, but that was before the acquisition of Emerald Power. The bank facility has increased from £120m to £140m for a four-year term. This provides funding for further acquisitions.
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MP Evans (MPE) says operations at the Simpang Kiri estate have been hit by flooding. This has caused some disruption. Normal operations should resume in a few weeks.
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M&C Saatchi (SAA) was hit by the US government shutdown, and this has led to a downgrade of expectations for 2025. The media business has done better than expected. Group revenues have been reduced by 1% to £210m, while pre-tax profit is cut by 19% to £22.4m. There is an even greater reduction from £34m to £24.7m for 2026. Net cash of £18.5m is forecast for the end of 2025. A £5m share buyback has been launched. Chief executive Zaid Al-Qassab bought 79,990 shares at 125p each.
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Victorian Plumbing (VIC) increased revenues by 5% to £310m in the year to September 2025 but underlying pre-tax profit fell from £23.1m to £21.8m. Net cash improved to £17.7m. The dividend was one-third higher at 2.15p/share. Revenues are growing in the current year. There will be a full launch for MFI.com in 2026 and it is likely to make a loss of up to £3.4m in the latest financial year.
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AB Dynamics (ABDP) has won a Euro9.7m contract to supply its advanced driver-in-the-loop simulation equipment to a major European automotive manufacturer. Sarah Matthews-DeMers has started as chief executive.
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Brickability (BRCK) is changing its name to BRCK to reflect that it has a group of businesses outside of the original Brickability operation. The bricks and building materials division increased interim revenues by 6% and the importing and distribution businesses did even better. Delays to projects meant that contracting revenues were lower. Overall revenues were 5% higher at £347m, while pre-tax profit was flat at £21.8m. The interim dividend was unchanged at 1.12p/share.
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Production has recovered at Serica Energy (SQZ). In November, it averaged more than 50,000 boepd and the acquisition of Prax Upstream – due to be completed in December - will add more. This prior to the planned outage at Triton. There are organic growth options now that the tax regime has been clarified. Third quarter revenues were $134m. Cash was $41m.
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Impax Asset Management (IPX) reported a 17% dip in full year revenues to £142m, while pre-tax profit fell 43% to £28m. Net cash was £68m at the end of September 2025. The total dividend is 12p/share. The loss of the St James’s Place mandates meant that assets under management fell from £37.2bn to £26.1bn, but it should start to recover by next September. However, the timing of the loss of mandates means that pre-tax profit is unlikely to rise by much this year, despite the lower interest charge.
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Alaska-focused oil and gas explorer Pantheon Resources (PANR) has updated the market on the flow testing of the Dubhe-1 well. Gas and modest amounts of light oil have been produced. Around two-fifths of the fluid used in fracking has been recovered. Management believes that flow ates may improve one more fluid is extracted. The estimated costs of the well have been raised from $25m to $33m.
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ITM Power (ITM) generated revenues of £18m and cash was £197m at the end of October 2025. At the end of April 2026, cash should be at least £170m.
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Begbies Traynor (BEG) has made two acquisitions at a total cost of up to £9.25m. The main acquisition is of Kirby Diamond, which boosts the property adviser business. Network Auctions is a small property auctions business.
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Camellia (CAM) says 50.7%-owned Kakuzi has had an adverse recommendation in connection with its land claims in Kenya. It covers 3,200 acres of land that might have to be surrendered. Kakuzi believes that its claims are valid.
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GlobalData (DATA) is launching a £10m share buyback and there will be further news on the timing of the move to the Main Market in January.
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CVS Group (CVSG) chairman bought 2,500 shares at 1219.01p each. Richard Griffiths has increased his interest in Next 15 Group (NFG) to 8.3%. Niox (NIOX) finance director Sarah Duncan bought 5,522 shares at 70.64p each. Tatton Asset Management (TAM) non-exec Pippa Hamnett acquired an initial 1,435 shares at 695p each. Nivag Holdings has increased its stake in Vertu Motors (VTU) to 6%.

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