CARD FACTORY (CARD) – Retail Price: 72.8p -24.5%P/E: 5.8xMarket Cap: £249mYield: 5.1% Specialist retailer Card Factory unexpectedly downgraded earnings expectations on weak consumer confidence, which it blamed for soft high-street footfall and lower spending by shoppers. Instead of an increase for the year to January 2026, the group now sees pre-tax profit between £55 million and £60 million compared to £66 million last year. Our View Card Factory will need to send out condolence cards to shareholders after today’s bombshell, while investors will be hoping the warning is company-specific and the rest of the retail sector is enjoying better trading…

1SPATIAL (SPA) – Software Price: 66.8p +43.7%P/E: 211xMarket Cap: £75mYield: n/a Geolocation data and software provider 1Spatial has agreed a possible cash offer for the business from rival UK firm VertiGIS at 73p per share compared with last night’s close of 46.5p per share. The offer represents a 57% premium, valuing the company at just over £87 million, and has the support of its two largest shareholders Columbia Threadneedle and Cannacord who together own 33.8% of the capital. Our View VertiGIS is itself a leading provider of spatial asset management and GIS (geographic information systems) services, so it’s reasonable to…

AUDIOBOOM (BOOM) – Media Price: 605p -0.8%P/E: 44xMarket Cap: £110mYield: n/a After an ‘excellent’ performance in November, AIM-listed podcast provider Audioboom (BOOM) has released a flash trading update ahead of its scheduled update in January. The firm generated record revenue of $9.1 million and record EBITDBA for the month thanks to a record 152 million downloads and video views, a 66% increase on the same month last year. Our View The acquisition of Adelicious in July has had an immediate impact, boosting output, distribution and advertising inventory and cementing Audioboom as number one in the video chart, strengthening its ability…

TRUFIN (TRU) – Media Price: 123.7p +4.8%P/E: 19xMarket Cap: £120mYield: n/a AIM-listed conglomerate TruFin – which brings together niche lending, early payment services and games publishing – has raised its guidance again thanks to strong sales of its back catalogue and its latest game, Unbeatable. For the year to December 31, revenue, EBITDA and pre-tax profit are now expected to be ‘materially’ ahead of previous expectations. Not only that, the firm’s cash position is likely to be bigger than expected so the board will consider how to allocate any surplus, including potentially returning it to shareholders ‘in a disciplined and…

Ahead of its AGM, disinfectant maker Tristel (TSTL) revealed it had made a strong start to the financial year. The company also said it was ‘firmly on target’ to deliver revenue growth of at least 10% by June 2026. Price: 368p +3%P/E: 30xMarket Cap: £175mYield: 3.5% BIG US SALES BOOST The AIM-listed firm said it saw strong H1 momentum driven by ‘solid’ UK growth and accelerating demand across Europe. More healthcare providers are adopting its products and its investment in improving its commercial execution is delivering. Meanwhile, five-month US sales of its ULT ultrasound product are already equivalent to last…

FIRSTGROUP (FGP) – Travel & Leisure Price: 187p +1.9%P/E: 9.5xMarket Cap: £1bnYield: 3.8% FirstGroup has acquired the UK sightseeing bus operations of French firm RATP for £17 million to grow and diversify its business. The RATP assets include 63 buses, 42 in London and 21 in Bath, as well as a large freehold depot in Wandsworth and a leased depot in Bath, plus the Airdecker bus service between Bath and Bristol airport. Our View It may not move the needle much, butr this looks like a shrewd deal as it not only bolsters the group’s offering but adding the Wandsworth…

VOLUTION (FAN) – Industrials Price: 658p +7.3%P/E: 20xMarket Cap: £1.3bnYield: 1.9% Heating, ventilation and aircon group Volution released a pre-AGM trading update to say activity in the first four months of its new financial year was positive with 5% growth in sales on a constant-currency basis. Add to that 25% growth from last year’s acquisition of Fantech and total sales are up around 30% since the start of August. The firm also revealed it is buying another Australian HVAC business for an initial outlay of AUD$ 150 million (around £75 million) with a follow-on payment of up to AUD$ 28.9…

COHORT (CHRT) – Aerospace & Defence Price: £10.58 -3.6%P/E: 17.6xMarket Cap: £490mYield: 1.7% AIM-listed defence technology group Cohort posted a mixed first-half update with revenue up but margins and EPS (earnings per share) down due to a lower-value sales mix. Still, there were plenty of positives such as a 23% jump in operating profit at the communications and intelligence division and a sustained strong order book, which together with 1H revenue covers 94% of forecast sales for the year to March 2026. Our View Initially, Cohort was left behind in the dash to own defence stocks, and it took until…

MADE TECH (MTEC) – Business Services Price: 26.5p +1.9%P/E: n/aMarket Cap: £39mYield: n/a The AIM-listed provider of technology services to the UK public sector put out a strong trading update for the six months to 30 November showing 27% growth in revenue to £27.7 million. The firm also predicted EBITDA for the first half would be up 33% to £2.4 million thanks to operational efficiencies, while net cash at the end of the period was £11.9 million, up 31%, thanks to continuing strong cash flow conversion. Thanks to positive 1H trading, the company now sees FY26 results ‘significantly’ ahead of…

BERKELEY GROUP (BKG) – Construction Price: £36.58 +2.2%P/E: 10.9xMarket Cap: £3.4bnYield: 3.6% London-focused appartment block builder Berkeley Group posted a positive update for the 1H to 31 October, although it’s somewhat upside-down as it starts with profits and NAV per share and there doesn’t seem to be a sales figure. All the firm says is the value of private sales reservations was broadly in line with the first half of the last financial year, but activity has been more subdued since then due to speculation ahead of the budget so sales were down around 4% year-on year. The firm has…