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 Topps Tiles (TPT) tumbled after the tiles seller posted a drop in H1 sales amid ‘challenging’ market conditions. A robust Q1 was followed by a slight slowdown in Q2 as homeowners and trade customers pulled in their horns. The Middle East conflict is likely to suppress consumer confidence and raise inflationary cost pressures further. Accordingly, Topps Tiles is undertaking a series of self-help measures. Not only will Topps slash head office costs, it will also close 23 underperforming stores over the next 12 months. Savings on the slate The wall and floor tile specialist’s H1 revenue softened 0.1% to…
Shares in AG Barr (BAG) bubbled up 7% to 659p after the beverage producer delivered tasty profit growth for FY26. The Irn-Bru-to-Rubicon maker said it entered FY27 with ‘good momentum’. And the company insisted it is on track to generate double digit percentage sales growth this year. Furthermore, CEO Euan Sutherland reiterated his ambition to double the size of the business, both organically and via a ‘more meaningful M&A strategy’. Strong core Revenue grew 4% to £437.3 million in the year to January 2026. This rise reflected growing momentum in AG Barr’s core soft drinks brands of IRN-BRU, Rubicon and…
In our latest Sharesify podcast special, James and Ian welcome Charlotte Cuthbertson, co-manager of MIGO Opportunities Trust (MIGO). MIGO is part of the Asset Value Investors (AVI) stable. The trust is unique in that it invests in discount opportunities in other closed-end funds where the managers believe there is a catalyst to unlock value. That gives them the flexibility to invest in any geography or asset class. Charlotte walks the team through how the managers unlock value by capitalising on discounts, making money for shareholders in return. She discusses the recent changes to MIGO’s investment approach and explains how the UK…
Healthcare fund RTW Biotech Opportunities (RTW) significantly outperformed its major biotech benchmarks in a ‘standout’ FY25. The trust delivered an impressive 35.7% net asset value (NAV) return. Additionally, its share price increased by 54.8%, narrowing the NAV discount from 22.8% at the start of 2025 to 12% by year-end. RTW Bio’s FY25 share price performance put it in the top 10 of all trusts tracked by the Association of Investment Companies (AIC). The recent FTSE 250 entrant is different to most biotech or healthcare funds because it is solely focused on finding ‘transformative’ technologies. These can range from early-stage academic programs needing…
Shares in Debenhams (DEBS:AIM) rallied after the online fashion group guided for FY26 adjusted EBITDA of £53 million. That is ‘comfortably ahead’ of previously-upgraded guidance. The revised estimate represents a 36% year-on-year earnings increase as the turnaround gathers pace. The upgrade largely reflected a 76% surge in H2 earnings. Cost-cutting and a pivot towards a ‘stock-lite, capital-lite’ marketplace continued to pay off for Debenhams. This pivot remains central to the recovery plan at the group behind boohoo, Karen Millen and PrettyLittleThing. Debenhams also raised its FY27 outlook. The retailer expects to deliver double-digit growth in adjusted EBITDA. Focused on growth…
To quote iconic movie character Ferris Bueller, ‘Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it’. This observation from the righteous dude is especially pertinent when it comes to the financial markets. As recently as Wednesday, key indices were up and the Sharesify team thought they could focus on company results. But US markets got smashed overnight again, leaving the S&P500 and Nasdaq trading well below their 200 day moving averages. In the latest Podcast, Ian and James ponder whether markets are now looking oversold. Ian explains why staying invested is…
French spirits firm Pernod Ricard (RI) and Jack Daniel’s owner Brown-Forman (BF.B) are in talks over a potential ‘merger of equals’. A tie-up would create a global alcoholic drinks titan with a combined market value north of $30 billion. Mega-deal distilled According to The Wall Street Journal, the deal being considered includes a significant shares component to it. The families behind the two companies would each retain significant stakes in the enlarged group. A merger would combine the world’s second-biggest spirits maker, Pernod Ricard, with the globe’s largest American whiskey producer, Brown-Forman. Pernod RicardShare price: €62 (+3.5%)Market cap: €15.1bnPE: 10.6x…
Global smaller companies trust Herald (HRI) has stepped up efforts to resolve its dispute with Saba Capital. Meanwhile, manager Katie Potts has been tasked with ‘raising the liquidity profile’ of the portfolio. In an update, the board said it continues to seek a ‘mutually agreeable solution’ with hostile major shareholder Saba. The US activist has a 31% stake in Herald and has been trying to take effective control by a process of attrition. But the majority of non-Saba shareholders have previously voted against moving into a Saba-controlled vehicle. Many would like to remain invested in the Katie Potts-managed trust’s successful…
In the latest Sharesify podcast special, James and Ian welcome Nicola Takada Wood, Asset Value Investor’s managing director for Japan. Nicola talks through AVI Japan Opportunity Trust (AJOT), which aims to capitalise on Japan’s increased focus on corporate governance, balance sheet efficiency and shareholder returns. Nicola explains how ‘AJOT’ invests in undervalued, cash-rich companies and uses constructive engagement to unlock value. She also explains why the corporate reform story in Japan has still legs under the country’s new PM. Takada Wood talks us through the benefits of AJOT’s combination with Fidelity Japan Trust. This has created a larger trust with increased capability…
E-commerce group THG (THG) ticked up 8% to 34p after FY25 results beat forecasts off the back of a record H2 performance. The Manchester-based business behind sports nutrition brand Myprotein and beauty retailer Lookfantastic also highlighted a ‘strong start’ to FY26. This positive start underpins THG’s FY26 revenue and adjusted EBITDA expectations, with free cash flow generation anticipated to be in the £25 million to £50 million range. There was also relief as THG said less than 1.5% of its revenues are exposed to war-blighted Middle East regions. EBITDA beat Guided by CEO Matthew Moulding, THG delivered adjusted EBITDA of…