Author: James Crux
James Crux
James Crux writes extensively about funds and investment trusts and also specialises in retail, food and beverage sector stocks. He has spent 25 years working in the industry and was named Best Financial Consumer Journalist at the AIC Media Awards 2024 and 2025 for his work at Shares magazine (owned by AJ Bell). Before that, he was the editor of Growth Company Investor and a writer for investment and business titles What Investment and Business XL. James is a long-suffering West Ham supporter and a big fan of The Sopranos.
AVI Japan Opportunity Trust’s (AJOT) positive performance continued in 2025. This was a transformative year which saw the fund merge with Fidelity Japan Trust in Q4. ‘AJOT’ delivered a strong net asset value (NAV) return of 22.8% in Japanese Yen last year, and a third consecutive year of double-digit sterling-based returns. While the 14.7% sterling return proved robust, it did lag the 19.8% sterling return from the MSCI Japan Small Cap Index as performance weakened in the second half. The benchmark was propped up by the performance of larger names that don’t fall within AJOT’s investment universe. AJOT’s share price…
FTSE 250-listed Trainline’s (TRN) FY26 trading update met previously upgraded expectations. So why did shares in the rail ticketing platform fall 3.3% to 187p on Thursday? Well, investors remain skittish about the long-term impact of UK rail nationalisation, and the looming departure of CEO Jody Ford. Poor sentiment towards the rail and coach travel platform reflects uncertainty over the pending Great British Railways tender process. Ongoing digital pay-as-you-go trials also weigh on the stock. Trainline also needs to recruit a successor to Ford, who is planning to leave after more than six years at the firm. Double-digit growth Revenue for…
Shares in On the Beach (OTB) slumped 10% to 173.3p after the online package holiday specialist warned the war in the Middle East is already impacting demand and profitability. The firm has temporarily suspended FY26 earnings guidance after experiencing a significant slowdown in bookings since the start of March, triggered by the escalation of the conflict. In an AGM update, On the Beach said it is temporarily suspending current year guidance for adjusted pre-tax profits of £39 million to £43 million. The holiday and city break operator has limited exposure to Middle East destinations. However, it has experienced a ‘significant…
Shares in Nichols (NICL:AIM) bubbled up 5% to 952p after the soft drinks producer delivered a 21.5% uplift in FY25 pre-tax profits to £29.2 million. That was in line with consensus on 1.3% sales growth to £175.1 million, reflecting both volume and value increases. Investors also toasted a step-up in dividends from the company behind Vimto, the iconic brand which achieved its highest-ever UK Retail Sales Value of £129.1 million. Nichols increased its final dividend by 9% to 18.7p, resulting in a total dividend hike from 32p to 33.7p. Furthermore, the diversified soft drinks group announced a change to its…
Law Debenture (LWDB) built on its strong track record by delivering a net asset value (NAV) total return of 28.4% for 2025. That was ahead of the 24% generated by the FTSE All-Share benchmark. To the delight of shareholders, this unique trust extended its 47-year record of maintaining or increasing the dividend. Trust with a twist Law Debenture’s share price total return for 2025 was 22.2% for 2025 as the shares moved from a 2.4% premium to a 2.5% discount. This was ahead of the Association of Investment Companies’ (AIC) UK Equity Income weighted average of 20.2%. Impressively, Law Debenture’s…
Edinburgh Worldwide (EWI) has launched a 100% tender offer as the trust looks to conclude its battle with Saba Capital. In a similar proposal to those seen at Herald (HRI) and Impax Environmental Markets (IEM), EWI is falling on its sword to ensure unwilling shareholders are not trapped in a Saba-controlled vehicle. The tender offer will provide shareholders with the opportunity to receive a significant cash exit close to net asset value (NAV). They will also retain access to the future value of rockets-to-satellites company SpaceX. EWI’s largest holding is reportedly lining up a blockbuster IPO. EWI’s board believes this…
Takeaway food firm Domino’s Pizza (DOM) is among the most-shorted stocks on the London market and expectations were downbeat heading into FY25 results. However, Domino’s delivered slightly better-than-feared FY25 revenue amid further UK takeaway pizza market share gains. This news sent the shares up 3.2% to 192.3p, overshadowing a 15% drop in annual profits. There was also relief as the pizza chain assured investors FY26 performance is tracking in line with market expectations. Positive Christmas trading momentum has carried over into the first 9 weeks of 2026. Solid base to build on? Domino’s Pizza has a 52.6% slice of the…
Shares in Hims & Hers (HIMS) surged 40% to $22 on Wall Street after the American health and wellness platform ended its dispute with Novo Nordisk (NVO) by forming a partnership with the Danish drugmaker. Wegovy-maker Novo now plans to sell its weight-loss drugs on the Hims & Hers Health platform, bringing a vicious spat between the two companies to an amicable conclusion. Share price: $22 (+40%)PE: 31.4Market cap: $3.6bnYield: N/A San Francisco-headquartered Hims & Hers will no longer advertise compounded GLP-1 offerings, and existing patients will have the opportunity to transition to US Food and Drug Administration (FDA)-approved offerings.…
The managers of investment trust CQS Natural Resources Growth & Income (CYN) have tendered their resignations. The duo of Keith Watson and Robert Crayfourd also manage the Golden Prospect Precious Metals (GPM) and Geiger Counter (GCL) trusts for CQS. According to the RNS announcements, Watson and Crayfourd will continue to manage all three trusts during their three-month notice period. Further updates on the management of this trio of funds will be provided in due course. Shares in Natural Resources Growth & Income dropped 7% to 352p on the news, while Golden Prospect shares shed 5% to 96p. Geiger Counter’s shares…
Shares in Strix (KETL:AIM) slumped 10.5% to 42p after the kettle safety controls maker warned FY26 profits will miss estimates. The downgrade reflected a slower-than-expected recovery in the regulated kettle control market. Also at play was a margin squeeze from soaring copper and silver prices. Strix designs and supplies kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration. Off the boil For the year to March 2026, Strix is now guiding for revenue of roughly £150 million and adjusted pre-tax profit in the £9.8 million to £10.2 million range. Equity…