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.
Shares in Cranswick (CWK) gained 2% to £52.50 after the pork-to-poultry processor raised its earnings guidance. The firm said it expects FY26 adjusted pre-tax profits to be towards the upper end of current market expectations. The upgrade follows strong trading in the third quarter to 27 December 2025, with all of the food producer’s product categories seeing year-on-year growth. Premium ranges traded particularly well over Christmas and Cranswick benefited from strong poultry pricing to boot. Share price: £52.50 (+2%)PE: 18.5xMarket cap: £2.76 billionYield: 2.1% MEATIER PROFITS EXPECTED Investors in Cranswick can expect FY25 adjusted pre-tax profits to land towards the…
In this article we explain what continuation votes and continuation tender offers are and what they mean for investors. We also give two recent examples of investment trusts which have employed one or the other scheme. A continuation vote is a vote to ask if a trust should continue with its investment strategy or be shut down. When a trust is wound up, the assets are liquidated over time and cash is returned to shareholders. Continuation votes are a permanent feature for some investment trusts, occurring annually or every two, three or five years. In other cases, a vote is triggered if…
Money manager Asset Value Investors (AVI) published an open letter urging Harbourvest Global Private Equity (HVPE) to put itself up for sale. AVI is the activist manager behind the AVI Global (AGT) and MIGO Opportunities (MIGO) trusts. HVPE share price: £31.75Latest NAV/share: £43.18Market cap: £2.3bnDiscount: -26.5% DISAPPOINTING RETURNS AVI is a top 10 shareholder in the £2.3 billion cap private equity fund with a 3.3% stake. It says it won’t support HVPE’s continuation vote in July unless the board halts new investments or launches a formal sales process. In an open letter, AVI manager Tom Treanor said he had held a ‘constructive…
Dublin-headquartered drinks distributor C&C (CCR) cut its profit guidance, leaving investors nursing a heavy hangover. The premium cider, beer and spirits maker downgraded FY 2026 earnings guidance and warned of flat profits to come next year. Shares in the drinks giant fell 10% to 116p in early dealings. Share price: 116p (-10%)PE: 14.9xMarket cap: £435mYield: 4.4% The Magners and Bulmers brewer pinned the blame for the earnings alert on last November’s UK Budget. The firm said consumer confidence was weak during the Christmas run-in and blighted trading across November and early December. SOFTER HOSPITALITY DEMAND ‘Our business performance was driven…