Specialist wine supplier Virgin Wines (VINO:AIM) uncorked palate-pleasing H1 results showing positive progress against a refreshed growth strategy. The Norwich-based firm delivered ‘meaningful’ market share gains in the half ended 2 January 2026, with a 40% year-on-year increase in new customers. To maintain this top-line momentum however, Virgin Wines guided to an extra £550,000 in customer acquisition spend. This was greater than the market expected and left the shares trading lower on the day. Winning market share Guided by CEO Jay Wrght, Virgin Wines is the UK’s largest direct-to-consumer (DTC) online wine retailer. The company’s medium-term target is to grow revenues…

Shares in Wickes (WIX) jumped 3% to 221.5p after the home improvement retailer posted forecast-beating FY25 profits and announced a fresh £10 million buyback for FY26. The kitchens-to-bathroom taps seller also raised its long-term store target to 300 locations from a previous ambition of 250 in a move expected to create over 2,000 new jobs. Led by CEO David Wood, Wickes delivered a 14.4% hike in FY25 adjusted pre-tax profits to £49.9 million. That beat the company-compiled consensus of £48.2 million as operating leverage and strong productivity partially mitigated cost inflation. Despite a tough market for big-ticket purchases, revenue rose…

Global fund F&C (FCIT) underperformed its benchmark in 2025 as the weak dollar and some disappointments in Europe and the US hindered performance. However, the world’s oldest investment trust raised the total 2025 dividend to 16.6p, an increase of 6.4%. That marked the 55th consecutive annual dividend rise from the trust as well as its 158th annual dividend payment for shareholders. The FTSE 100-listed fund also proposed a 4-for-1 share split at the upcoming annual general meeting (AGM) in May that will increase the affordability and liquidity of its stock. Trailing the benchmark Managed by Columbia Threadneedle’s Paul Niven, F&C’s…

Active fund manager Liontrust (LIO), has agreed to acquire River Global’s (RVRG) asset management arm in an all-share deal worth up to £9.7 million. Led by CEO John Ions, Liontrust said the deal will further expand Liontrust’s investment talent and broaden its client base. Liontrust expects the deal will be enhance its earnings in the year to March 2027 and prove ‘materially accretive’ in future years. Shares in Liontrust ticked up 4.5% to 256p on the news, while Martin Gilbert-chaired River Global rallied 30% to 4.4p. Gathering assets Liontrust is acquiring River Global Holdings Limited, which was formed by bringing…

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…