Pawnbroker Ramsdens (LON: RFX) is recommending a 600p/share bid from Nasdaq-listed pawnbroker FirstCash, which previously acquired H&T. That is higher than the share price has ever been. Shareholders will also receive the 6p/share interim dividend and special dividend of 3p/share. This values the company at £203m plus £3m in dividends. The bid values Ramsdens at around nine times forecast 2025-26 earnings, although profit has been boosted by the high gold price increasing gold buying activity. A fall in profit is currently expected for 2026-27 indicating a multiple of 13, although there have been previous forecast upgrades for the current year and if gold prices remain high there is upside in this forecast. The share price jumped 30.4% to 590p.
Online music retailer Gear4Music (LON: G4M) bounced back last year and took advantage of competitors going out of business in the UK. Revenues jumped from £146.7m to £190.7m. There was growth across the range of products both own brand and branded. Pre-tax profit soared from £1.8m to £10.2m – only the peak Covid profit in 2020-21 was higher. This year Gear4Music is moving into a new warehouse, so there will be additional costs holding back profit in the short-term, but revenues should continue to grow. The share price gained 4.85% to 270p.
Pulsar Helium (LON: PLSR) will present information at the 2026 Quantum Tech World Conference in Boston concerning its verified helium-3 at the Topaz project in Minnesota. This is one of the highest grade discoveries in North America. The share price increased 4.44% to 72.5p.
Richmond Hill Resources (LON: RHR) chief executive Hamish Harris bought 385,000 shares at 1.33p each. The share price improved 3.7% to 1.4p.
FALLERS
IT managed services provider Iomart (LON: IOM) reported full year figures in line with expectations with revenues of £154.9m and pre-tax loss of £4m. There were £5m of annualised savings made during the year. Cavendish believes that the results should provide a base line from which to improve, but that appears likely to take some time with a similar loss expected this year on lower revenues. Any signs of improvement in trading could spark an upgrade, but there appears to be a lot more for management to do to improve performance. The share price slipped 19.3% to 14.525p.
Space and aerospace technology supplier Filtronic (LON: FTC) says full year revenues will be in line with consensus forecasts of at least £55.5m, while EBITDA will be slightly better than expected due to improved margins. That means that pre-tax profit is estimated at £8.5m. Net cash is 311.3m. The new facility has capacity of £200m. The strong order book means that 90% of 2026-27 revenues expectations of £62.6m. A second contract has been won for satellite payload technology with a US-based customer worth £400,000. This will be recognised in the current year. The 2025-26 results will be published on 4 August. The share price declined 9.21% to 345p.
Technology investment company Tern (LON: TERN) reported a fall in net assets from £10.7m to £6.9m in 2025. This was due to a decline in value of the investment portfolio. More cash has been raised since the year end enabling further investment in two investee companies. The share price dipped 9.09% to 1p.
Staffing company Hercules (LON: HERC) says in its AGM statement that the labour supply and civil projects divisions are well placed to benefit from infrastructure investment. There have been some delays in the commencement of projects, though. The share price fell 6.19% to 22.75p.