Following its merger with Shires, the strengthened Aberdeen Equity Income Trust (LON:AEI) has delivered a strong H1 performance. For the six months to March 2026, the trust generated an NAV total return of 9.9%. That compares with an 8.9% total return for the FTSE All Share index. Dividend Hero Following the successful integration of Shires Income, AEI increased its assets by over £120 million. More than 96% of Shires shares were rolled over, demonstrating investors’ faith in the strategy. Not only did the trust beat the benchmark in H1, it is now outperforming over one, two and three years. Moreover,…

International hotel group PPHE (LON:PPHE) revealed it had received a cash bid valuing the company at £930 million. The board said it had considered the bid, and thought it represented fair value. The proposal, from Fattal Holdings, prices the shares at £22 each, a 36% premium to the previous close of £16.12. Shareholder pressure In November last year, PPHE announced it had started a strategic review ‘to improve shareholder value or introduce growth capital’. Among the options on the table was putting the company up for sale. The review was prompted by the group’s two biggest shareholders, with a combined…

High-performance materials group Zotefoams (LON:ZTF) posted a positive four-month trading update ahead of its AGM. The firm saw strong trading across all divisions and reiterated its full-year earnings guidance. On track for full year For the period to the end of April, Zotefoams saw a 26% increase in revenue to £64 million. Demand was robust in key markets, while the contribution from OKC (Overseas Konstellation) offset the anticipated slowdown in footwear. In EMEA (Europe, Middle East and Africa), sales grew 24% to £50 million with OKC contributing almost £10 million. Underlying sales were stable against a strong prior-year period which…

Shares in AIM-listed defence technology group Cohort (LON:CHRT) climbed 10% after FY26 results beat forecasts. The firm’s CEO also expressed confidence in its FY26/27 financial outlook. Record revenue and orders For the year to April, Cohort reported revenue of £303 million, up 12% and ahead of the consensus of £294 million. Operating profit of £36 million was also ahead of the consensus, which was pegged at £34.7 million. The Communications & Intelligence division grew revenue by almost 27% to £159 million with a strong performance from EM Solutions. The business was only acquired in January of 2025 and is already…

AIM-listed PR firm Pathos Communications (LON:NEWS) announced its largest contract so far, covering FY26 and FY27. The contract, worth $0.7 million, comes from an existing customer, a major non-profit consulting firm. Increasing confidence Pathos, which aims to ‘democratise PR’ for small and medium-sized companies, operates across multiple channels. The latest deal, from a client of the company since 2023, includes US tv placements. podcasts, articles and book publishing. The 12-month contract takes the total spend by the client to nearly $1 million and will generate over $0.5 million in EBITDA. ‘This win gives us increasing confidence in the strength of…

Veterinary services firm CVS Group (LON:CVSG) announced it would buy back £50 million of its shares alongside its latest refinancing. The move comes after sustained pressure from Canadian actvisit Converium Capital, which owns a small stake in the group. In the clear CVS announced the buyback together with a refinancing of the group’s £350 million bank debt on improved terms. As part of the deal, leverage is capped at two times net debt to EBITDA except in the event of acquisitions ‘which provide a clear runway’ to return to under two times leverage. On the subject of acquisitions, CVS revealed…

FTSE 250 specialist engineering firm Bodycote (LON:BOY) confirmed it had received an approach from a private equity buyer. The proposal from US firm Apollo Management values the firm at just over $2 billion or £1.5 billion 29% premium The firm, which provides thermal processing services, said the Apollo offer comprises 885p per share in cash plus the 16.1p final dividend. The offer is the latest in a series of proposals from Apollo to the Bodycote board, apparently. Bodycote shares jumped 18% to 825p on confirmation of the approach. The offer represents a 29% premium to the undisturbed share price. The…

Building products supplier Genuit (LON:GEN) trimmed its FY26 profit guidance due to the impact of the Middle East conflict on its sales and margins. The firm now sees underlying operating profit towards the lower end of the range of analyst estimates. Double whammy Genuit makes pipes and other water management products for the housing market and the infrastructure market. It also makes HVAC (heating and ventilation) products for the housing market, with sales split 70% water and 30% HVAC. For the first four months of 2026, sales were down 8.7% on a LFL basis but flat on a reported basis…

Shares in infrastructure equipment firm Hill & Smith (HILS) reached an all-time high after it raised FY26 earnings guidance. Based on its strong start to the year, the company now sees operating profit at the top end of analysts’ forecasts. US driving upgrades In a four month trading update ahead of today’s AGM, the group said trading had been slightly ahead of expectations. Demand for infrastructure projects in the US, its largest market, drove a 10% increase in US organic growth and a 5% increase across the group. US Engineered Solutions, which builds critical infrastrutcure from electricity substations to road…

Food and clothing retailer Marks & Spencer (MKS) delivered FY26 profit which topped market expectations. Equally important, it said it expects profits to grow again after the disruption caused by last year’s cyber incident. A tale of two halves For the 12 months to March, M&S posted total sales of £17.37 billion, up 25% on the previous year. Excluding Ocado Retail, which M&S owns 50/50 with Ocado Group (OCDO), sales rose 1.9% to £14.18 billion. Food sales increased 7% to £9.7 billion driven by like-for-like growth of 6.7% and a slight increase in prices. M&S UK food volumes grew 3.3%…