Shares in Greggs (GRG) softened 1% to £15.58 after the food-to-go retailer posted a drop in FY25 profits. The Newcastle-based baker also reported a sales growth slowdown for the early weeks of 2026. Share price: £15.58PE: 12.6xMarket cap: £1.59bnYield: 4.4% And the damage might have been worse had the sausage roll seller not reiterated guidance for stable FY26 profits. Slow start to 2026 Greggs is the British brand beloved by cash-strapped consumers for its cut-price coffees, sweet treats and goujons. Like-for-like sales in company-managed shops grew 1.6% in the first nine weeks of 2026. That represented a slowdown on the…

In his first annual letter to shareholders, new Berkshire Hathaway (BRK.B) CEO Greg Abel stressed he will maintain the conglomerate’s ‘fortress-like’ balance sheet. He also pledged to uphold the values of his predecessor Warren Buffett. Share price: $505HQ: Omaha, NebraskaMarket cap: $1.09trnYield: n/a Shares in Berkshire Hathaway have underperformed the S&P500 since Buffett announced he was stepping down last May. Signalling it will be business as usual at Berkshire Hathaway, Abel’s comments reassured investors in the Omaha-based colossus. Dry powder Abel insisted he won’t rush to deploy Berkshire’s near-record $373.3 billion cash pile, which gives the company plenty of ‘dry…

Small cap trust BlackRock Throgmorton (THRG) underperformed its benchmark in the year to November 2025. Strong operational performances from many holdings were often not reflected in share prices as the small and mid cap sector suffered outflows. Share price: 643pNAV per share: 720.5pMarket cap: £482.5mDiscount to NAV: 10.8% These were Throgmorton’s last results as a standalone trust ahead of a merger with BlackRock Smaller Companies (BRSC). Backed by Saba Capital, the deal will consolidate BlackRock Smaller Companies’ position as the largest growth-focused UK Smaller Companies trust. Trailing the benchmark Over the year to November 2025, Throgmorton’s net asset value (NAV)…

Embattled Impax Environmental Markets (IEM) is set to fold after its battle with US activist Saba took a troubling turn for the investment trust sector. Boaz Weinstein-led Saba threw the £840 million trust’s future into question by refusing to sell its 21% stake in a continuation tender offer. Share price: 448p (+1.6%)Total assets: £985mMarket cap: £755mNAV: 470.9p Since no tender election was received from Saba, IEM will now terminate the continuation tender offer. Complaining that Saba has ‘refused to engage constructively’, the board sees no choice but to proceed with an exit tender offer. Taking no action ‘risks prolonged instability,…

Shares in JM Smucker (SJM) jumped 7.5% to $115 on Wall Street after the US consumer staple delivered forecast-beating Q3 results. The company, which makes food for people and pets alike, also issued a confident outlook statement. Share price: $115 (+7.5%)PE: n/aMarket cap: $11.4bnYield: 4.1% This provided investors in the challenged packaged food category with a glimmer of hope. Best known for its fruit jams and spreads, JM Smucker’s product range spans everything from peanut butter and coffee to cat food and dog snacks. Its brands include Uncrustables sandwiches, Café Bustelo coffee and the Hostess sweet baked snacks portfolio. Caffeine boost…

Ingredients innovator Tate & Lyle (TATE) has reiterated that year-to-March 2026 sales and underlying earnings are still expected to decline. Share price: 383p (-4%)PE: 14.5xMarket cap: £1.8bnYield: 5.1% Struggling to deliver top-line revenue growth, the food producer said its Q3 sales performance was crimped by the persistence of ‘muted market demand’. Shares in the FTSE 250 food producer tumbled 4% to 383p on the downbeat news. Organic growth challenged Tate & Lyle develops ingredients and solutions which reduce sugar, calories and fat, add fibre and protein, and provide texture to food and drink. Its products are found in beverages, bakery…

Kitchen designer Howden Joinery (HWDN) delivered forecast-beating FY25 profits after continuing to take share in a UK kitchen market that has experienced several years of decline. Share price: 918p (+7.5%)PE: 17.3xMarket cap: £4.6bnYield: 2.7% The FTSE 100 firm also launched a new £100 million share buyback for FY26. This helped to drive the stock up 7.5% to a six-month high of 918p. Designs on growth London-headquartered ‘Howdens’ sells kitchens and joinery products to trade customers, primarily local builders, through 891 UK depots. The domestic market is large with significant future growth potential, yet Howdens also has designs on international growth.…

The UK smaller companies sector has suffered from significant challenges in recent years. Greater investment outflows have led to significant under-valuation of the stock market’s smaller fry. However, UK small-caps continue to exhibit robust fundamentals. Many of these corporate ‘acorns’ have the potential to grow into the ‘mighty oaks’ of the future. In this article, we outline why now could be an opportune moment to invest in UK small-caps. We also highlight some top-performing investment trusts and funds which offer exposure to the theme. Finally, we look at some of the companies which provide finance to UK small and mid-cap…

Shares in Diageo (DGE) sank 5.5% to £17.70 after the world’s biggest spirits company cut the first half-dividend and lowered its full-year sales and profit outlook. Share price: £17.70 (-5.5%)PE: 16xMarket cap: £41.7bnYield: 4% Grappling with a $21.7 billion net debt pile, the Guinness-to-Johnnie Walker maker’s H1 sales disappointed the market amid weaker demand in China and North America. Mixed performance Net sales declined by 4% to $10.5 billion and organic sales slipped 2.8% lower in what new CEO Dave Lewis dubbed a ‘mixed’ performance. Diageo said ‘strong’ organic sales growth in Europe, Latin America and Caribbean (LAC) and Africa…

Shares in Convatec (CTEC) rallied 8% to 244.5p after the medical devices maker upgraded its medium-term organic growth target to a range of 6% to 8% from 2027. This represented a healthy upgrade from previous guidance of 5% to 7%. Share price: 244.5p (+8%)PE: 21.5xMarket cap: £6bnYield: 2.5% Convatec believes growth is ‘set to accelerate’, driven by the successful implementation of its strategy, recent product launches and a ‘rich product pipeline’. Faster growth will also be supported by higher growth capital expenditure (capex) from the FTSE 100 firm. In rude health For the uninitiated, the company’s products and technologies help…