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Ashmore Group (LSE:ASHM) reported an 8% increase in assets under management to approximately $52.5 billion as at 31 December 2025, supported by solid net inflows and favourable investment performance across its emerging markets strategies.

During the period, the group attracted $2.6 billion of net inflows, complemented by $1.2 billion of positive market performance. Growth was primarily concentrated in fixed income and equity products, with particularly strong demand for external debt and local currency strategies. Management said investor appetite has been encouraged by robust emerging markets returns during 2025 and continued economic outperformance relative to developed markets.

Ashmore also pointed to a more supportive macroeconomic backdrop for emerging markets, including easing or low inflation, interest rate cuts across several EM economies and a weaker US dollar. These factors are prompting investors to rebalance portfolios away from US-centric exposures, creating opportunities for active managers such as Ashmore to capture incremental allocations and generate alpha.

From an investment perspective, the group continues to benefit from strong profitability and a resilient balance sheet. However, challenges around revenue growth and cash flow remain considerations. While the dividend yield and strategic growth initiatives are viewed positively, technical indicators suggest the potential for near-term volatility.

More about Ashmore Group PLC

Ashmore Group plc is a specialist asset management firm focused exclusively on emerging markets. The group offers a broad range of investment strategies across fixed income, equities and alternatives, including external debt, local currency debt, corporate and blended debt solutions. Ashmore serves institutional and professional investors globally seeking long-term exposure to developing economies through active investment management.

GenIP Plc (LSE:GNIP) reported strong operational momentum in 2025, delivering approximately 330% revenue growth and a 150% increase in gross margin compared with 2024, supported by rapid client acquisition and high retention levels.

Growth has been driven by increasing uptake of the group’s integrated invention intelligence platform, particularly its higher-margin Invention Prioritizer product. Recent contract wins include new orders from Brazil’s National Nuclear Energy Commission, while extensive deployment at a leading Saudi research university has generated referrals and inbound enquiries, highlighting growing international recognition of the platform’s capabilities.

GenIP is also making progress in the corporate sector, with demand for its Invention Evaluator product increasing through a partnership with 360 Impact Studio as well as through direct client engagements. Academic demand remains robust, with repeat and multi-year contracts secured from institutions across the US, Chile and Singapore, providing revenue visibility and reinforcing the company’s strong foothold in the research market.

To further strengthen market engagement, GenIP has launched a new webinar series, GenIP Innovation Exchange, designed to showcase how leading universities embed its tools within technology commercialisation workflows. Management views this initiative as a key step in broadening its corporate customer base and reinforcing its positioning as a provider of higher-value, AI-enabled innovation services.

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GenIP Plc operates at the intersection of generative AI and innovation strategy, delivering AI-powered innovation intelligence and technology commercialisation services. Its core offering is the Invention Intelligence product suite, which provides insights into the commercial potential of emerging technologies. The group also offers talent and executive search services that apply machine learning and natural language processing to connect innovation-led organisations with commercialisation-focused leadership across corporate, venture capital and academic markets worldwide.

TruFin (LSE:TRU) said it now expects adjusted profit before tax for 2025 to exceed £7.4 million, representing more than an eightfold increase on the prior year, with revenues forecast at around £63 million. The strong performance reflects significant operating leverage across the group and has supported £8 million of share buybacks, while leaving TruFin with year-end cash of at least £12 million.

The upgrade was driven largely by outstanding results at games publisher Playstack. Its portfolio benefited from the success of hit titles Balatro and Abiotic Factor, alongside two new releases, which boosted both current-year earnings and the long-term value of its back catalogue. Meanwhile, Oxygen delivered double-digit growth in both revenue and EBITDA, achieved record client numbers and increased transaction volumes, despite operating in a challenging public-sector procurement environment.

At Satago, losses were substantially reduced following a programme of cost reductions and a sharper focus on its core credit control and embedded finance offerings. Collectively, these developments underline TruFin’s ability to generate profitable growth across its fintech and gaming businesses and strengthen its positioning within both markets.

From a market perspective, the group’s outlook is supported by robust financial execution and shareholder-friendly actions such as share buybacks. Technical indicators suggest positive momentum, although valuation metrics, including a high price-to-earnings ratio, point to potential overvaluation. The absence of recent earnings call commentary limits further visibility into management’s forward guidance.

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TruFin plc is the holding company for a portfolio of growth-oriented technology businesses operating in specialist financial services and gaming markets. Its subsidiaries include Oxygen Finance, Satago Financial Solutions and mobile games publisher Playstack. Listed on AIM since 2018 under the ticker TRU, the group focuses on generating recurring, technology-led revenues from public-sector early payment programmes, embedded finance solutions and a growing catalogue of video game titles.

Dunelm (LSE:DNLM) reported a resilient first-half performance despite a challenging UK retail backdrop, with total sales rising 3.6% year-on-year to £926 million. Digital sales continued to gain share, accounting for 41% of group revenue, while gross margin improved by 60 basis points, supported in part by favourable foreign exchange movements.

Momentum eased during the second quarter, however, particularly around the Black Friday period and into December. The slowdown reflected intensified promotional activity across the sector and softer demand within furniture categories. As a result, the group said full-year pre-tax profit is now expected to come in toward the lower end of current market forecasts.

Despite near-term trading pressures, Dunelm continues to invest in initiatives aimed at strengthening its long-term market position. These include further store openings, enhancements to its mobile app, and improvements in product availability, which management believes will support customer engagement and reinforce its leadership in UK homewares.

From a market standpoint, the shares are underpinned by constructive technical indicators and a valuation viewed as broadly fair. Management commentary and recent corporate developments remain supportive, although solid operational performance is tempered by elevated leverage and a slowdown in free cash flow growth.

More about Dunelm Group

Dunelm Group plc is the UK’s leading homewares retailer, offering more than 100,000 products across categories including home textiles, furniture, kitchenware, lighting, outdoor living and DIY. Founded in 1979, the Leicester-based group operates 203 stores across the UK and Ireland alongside a growing online platform, employing around 12,500 people. Dunelm focuses heavily on own-brand ranges and value-led propositions, complemented by services such as made-to-measure window treatments and in-store Pausa coffee shops.

Advanced Medical Solutions Group (LSE:AMS) said it expects to report 2025 revenues of approximately £228.5 million, up from £177.5 million in the prior year, with EBITDA forecast in the range of £49.5 million to £50 million. The board said it remains confident of delivering results in line with market expectations.

The increase in revenue reflects strong demand across the group’s core surgical product categories, alongside an improving performance in the woundcare division. This more than offset ongoing destocking in the Peters Surgical B2B segment. Integration of both the Peters Surgical and Syntacoll acquisitions continues to progress according to plan, with early commercial synergies already being realised. Further operational benefits are expected to emerge from 2027 as integration matures.

Management noted that the group now operates with a broader and more resilient product portfolio, supported by an expanded international footprint following the Peters Surgical acquisition. Preparations to deepen penetration of the US market are well advanced, underpinning confidence in another solid year of growth in 2026. The company believes these factors position it well for scalable expansion, margin enhancement and sustained long-term value creation.

From an investment perspective, Advanced Medical Solutions continues to demonstrate strong top-line momentum and a sound capital structure. However, pressure on profitability margins remains a key consideration. Technical indicators point to positive share price momentum, while valuation metrics suggest the stock may be trading at elevated levels. Recent acquisition activity and investor engagement highlight the group’s longer-term growth ambitions.

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Advanced Medical Solutions Group plc is a UK-based medical device specialist focused on tissue-healing technologies, including surgical adhesives, sealants, biosurgical products and sutures. Drawing on advanced materials science and applicator design developed in collaboration with surgeons, the group serves global surgical and woundcare markets. Its business model benefits from a diversified product range and geographic exposure, with a growing emphasis on direct sales following the acquisition of Peters Surgical to accelerate expansion in the US and other international markets.

AB Dynamics (LSE:ABDP) said the strong trading momentum seen at the close of FY25 has continued into the first four months of FY26, with order intake reaching £46 million and delivery patterns expected to remain weighted toward the second half of the financial year.

The group reported a robust financial position, ending the period with net cash of £35.5 million, which provides capacity to support an active pipeline of acquisition opportunities. Its order book currently stands at £50 million, including £14 million scheduled for delivery in FY27, covering around half of anticipated FY26 revenue and improving medium-term revenue visibility.

Management highlighted the benefits of a geographically diversified customer base that is both OEM- and powertrain-agnostic, reducing reliance on any single technology or market. The business also remains well positioned to benefit from long-term regulatory and structural growth drivers within the global transport sector. Despite ongoing macroeconomic and geopolitical uncertainty, AB Dynamics said it expects FY26 adjusted operating profit to be delivered in line with current market forecasts.

From a market perspective, the company continues to demonstrate strong underlying financial performance, supported by a constructive outlook outlined in its most recent earnings update. However, technical indicators point to a bearish trend, and valuation levels are considered only moderately attractive, tempering overall sentiment.

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AB Dynamics plc is a UK-based designer, manufacturer and supplier of advanced testing, simulation and measurement systems for the global transport industry. The group serves automotive manufacturers, Tier 1 suppliers and specialist service providers, supporting research and development activities focused on vehicle safety, dynamics and performance. Its technologies are used in structural growth areas including active safety systems, autonomous driving and vehicle automation.

CAB Payments Holdings plc (LSE:CABP) said it now expects full-year 2025 total income to reach approximately £119 million, with adjusted EBITDA coming in slightly ahead of current market consensus, following a strong performance in the second half of the year.

The upgrade reflects rising transaction volumes, continued expansion of the client base, and the rollout of enhanced product capabilities. CAB Payments has also strengthened engagement with central banks and regulatory bodies, while extending its international presence through the opening of a New York office and the receipt of an in-principle licence in Abu Dhabi. These developments are supporting improved operating leverage and point to a return to more consistent and sustainable growth heading into 2026.

Despite the positive trading update, investor sentiment remains tempered by the group’s uneven recent financial history, including a decline in revenue during 2024 and periods of volatile cash generation. However, improving technical indicators and supportive corporate progress provide some offset. Valuation metrics also represent a moderate constraint, with the shares trading at around 25 times earnings and no declared dividend yield.

More about CAB Payments Holdings Limited

CAB Payments Holdings plc operates through its subsidiary Crown Agents Bank Limited as a business-to-business foreign exchange and payments specialist focused on emerging markets. Leveraging a network built over more than 180 years, the group enables cross-border payments across 125 currencies and more than 800 currency pairs via APIs, digital platforms and tailored solutions. CAB Payments has also been recognised for its sustainability credentials, holding B Corporation certification and a Platinum Sustainability Rating from EcoVadis.

Premier Miton (LSE:PMI) reported assets under management of £9.6 billion as at 31 December 2025, representing a 7% decline from £10.3 billion at the start of the financial year, largely reflecting significant net outflows during the first quarter.

The group recorded £870 million of net redemptions over the period, primarily driven by withdrawals from US and European equity strategies as well as its UK multi-cap offering. Management attributed the outflows to continued investor caution, rotation away from growth-oriented equities, and persistent pressure on UK equity markets. A further £119 million of outflows related to previously disclosed corporate actions and capital returns associated with two investment trusts.

These pressures were partially offset by solid demand for fixed income strategies, which generated £163 million of net inflows. Premier Miton also disclosed that it is in advanced discussions to secure an additional institutional absolute return mandate valued at approximately $80 million, highlighting a strategic pivot toward areas where client appetite remains stronger.

Despite the challenging asset flow environment, management adopted a cautiously positive stance on the outlook. The firm cited improving short-term performance across several key strategies, the potential for a more favourable backdrop for active equity managers as interest rates decline, and continued progress in expanding international distribution. Ongoing cost discipline remains a central focus, while the group continues to evaluate selective M&A opportunities to enhance its competitive positioning.

From a market perspective, the shares reflect a mix of operational challenges and negative technical signals, alongside concerns around valuation. While the dividend yield remains attractive, it is tempered by ongoing pressures on profitability and cash generation.

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Premier Miton Group plc, operating under the Premier Miton Investors brand, is a UK-based active asset management firm offering equity, fixed income, multi-asset and absolute return investment strategies. The company serves both wholesale and institutional clients, with a focus on delivering long-term investment outcomes through actively managed products across UK and international markets.

Essentra (LSE:ESNT) said trading for the year ending 31 December 2025 remains in line with management expectations, with group revenue projected to increase by around 2.5% on a constant currency, like-for-like basis, while reported revenue is expected to be broadly flat due to adverse foreign exchange movements.

Performance in the fourth quarter showed continued improvement, with revenue rising 4.7% on a constant currency, like-for-like and working day-adjusted basis. Growth was primarily supported by pricing actions, greater exposure to structurally higher-growth end markets such as energy transition and digital infrastructure, and more favourable year-on-year comparatives. Regionally, EMEA delivered high single-digit growth, the Americas achieved low single-digit expansion, while APAC declined slightly following non-recurring benefits recorded in China during the prior year.

Adjusted operating margins for the full year are expected to be consistent with those achieved in the first half, reflecting ongoing operational efficiency initiatives. Essentra reported that cash generation and balance sheet strength remain solid, with leverage anticipated to stay comfortably below its 1.5x target threshold, preserving flexibility to support further investment and growth opportunities.

During December, the group completed the acquisition of US-based Device Technologies, a specialist provider of cable protection devices. The deal enhances Essentra’s manufactured product offering, with integration progressing as planned. Management also noted a healthy pipeline of additional bolt-on acquisition opportunities under review, reinforcing its commitment to disciplined inorganic growth.

Market sentiment around the shares reflects mixed financial performance and technical signals, with valuation levels presenting some risk. However, the ongoing share buyback programme continues to provide support for shareholder returns. Limited recent earnings call commentary restricts visibility into management’s near-term outlook.

More about Essentra

Essentra plc is a UK-based global supplier of essential components and solutions, focusing on the manufacture and distribution of plastic injection moulded, vinyl dip moulded and metal products. The group operates in 28 countries and employs approximately 3,000 people across 14 manufacturing sites, 26 distribution centres and 37 sales and service locations. Its products serve around 64,000 customers across a wide range of industries, including equipment manufacturing, automotive, fabrication, electronics, medical technology and renewable energy.

Metals Exploration plc (LSE:MTL) has confirmed to the UK Takeover Panel that it has met its stated post-offer intentions following the recommended acquisition of Condor Gold plc, which was completed through a scheme of arrangement on 15 January 2025 in line with the City Code on Takeovers and Mergers.

The company highlighted a single variance from its original plans relating to the Manikbel prospect within the Abra tenement. A previously outlined 6,000-metre drilling programme and initial mineral resource estimate have been deferred to accommodate a formal consultation process with indigenous communities. As a result, drilling is now expected to commence in the first half of 2026, with the initial resource estimate targeted for the fourth quarter of 2026. This adjustment may extend the timeframe for unlocking value from the Manikbel exploration asset.

From a market standpoint, Metals Exploration’s outlook continues to benefit from solid financial performance and constructive corporate developments, including progress on project expansion and the resumption of operations. These positives are partly offset by valuation constraints linked to a negative price-to-earnings ratio and a recent revision to production guidance following external disruptions. Technical indicators point to moderate momentum, broadly consistent with a cautious overall assessment.

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Metals Exploration plc is a gold producer, developer and explorer with assets in the Philippines and Nicaragua. The group focuses on advancing gold projects through exploration, resource definition and mine development across its portfolio in these jurisdictions.