The FIH Group Momart sale drove the AIM-listed conglomerate’s shares up 25.6% to 135p on Wednesday, as the group agreed to offload its art logistics subsidiary to CGR, a larger rival in the sector, for £7.6m.
The deal covers the entire issued share capital of Momart International Limited and is targeted for completion by 30 September 2026, according to the London Stock Exchange RNS filing.
FIH Group Momart Sale Triggers Shareholder Vote
The transaction requires shareholder approval at a general meeting scheduled for 28 August, because under AIM rules the disposal constitutes a fundamental change to the business, Proactive Investors reported.
Momart recorded a loss of £1.2m in its most recent financial year, up from a loss of £0.7m the prior year, according to Stockopedia. The buyer, identified by TipRanks as CGR, operates in art logistics and storage.
Following the disposal, FIH expects to hold approximately £17.8m in cash while maintaining a regular dividend, The Globe and Mail reported. Management flagged the possibility of a cash distribution to shareholders alongside further investment in the Falkland Islands business.
CT Automotive Leads Fallers After Profit Warning
CT Automotive (LON: CTA) was the session’s sharpest faller, with the shares dropping 24.5% to 40p after the automotive interior components supplier said first-half revenues rose 15% to $62.1m but profit will fall well short of the same period in 2025.
Higher operating costs and production inefficiencies in Mexico weighed on margins. Some cost recovery has been delayed into the second half, though the company said revenues and profit should improve and it remains on course to meet full-year forecasts. Pehlwan Malik Holdings recently acquired a 3% stake, which had briefly supported the shares before the decline.
Filtronic Results Show Sharply Lower Profit in Investment Year
Filtronic (LON: FTC) shed 8.37% to 230p after reporting full-year results for the year ended 31 May 2026. Revenue slipped to £55.5m from £56.3m, affected by adverse currency movements, according to UK Investor Magazine.
The LSE RNS filing shows profit before taxation of £3.8m for the year, against £13.4m in FY2025. The snippet cited £8.1m pre-tax profit; the LSE primary filing states £3.8m, and this article uses the primary source figure. Adjusted EBITDA was £11.3m, down from £17.0m the prior year.
The company characterised the period as an investment year. New engineering and business development staff have joined, and the Sedgefield facility is now operational with annual capacity exceeding £200m. SpaceX remains the largest customer, but management said new clients are broadening the revenue base.
Forecast pre-tax profit is £8.9m for the current year, with 95% of forecast revenues already in the order book.
Great Western Mining Drilling Under Way in Nevada
Great Western Mining Corporation (LON: GWMO) rose 6.35% to 3.35p after confirming that drilling at its Defender Tungsten Project began on 17 August 2026, having previously flagged a start within a fortnight. The programme covers a minimum of 7,000 feet (2,135 metres) across up to 22 drill holes, according to Yahoo Finance.
The project sits in Nevada’s Walker Lane Belt. Great Western Mining also holds a JORC-compliant copper resource and a portfolio of gold and silver assets. A maiden mineral resource estimate is targeted for Q4 2026, Share Talk reported. Assay results are expected in September and October.
Other Movers
Focusrite (LON: TUNE) edged up 1.27% to 240p after saying trading so far this year is ahead of the same period last year, with both the content creation and audio reproduction divisions growing. Pre-tax profit is forecast to rise from £12.5m to £14.2m. A capital markets day is planned later in the year to cover the company’s silicon chip technology.
Digital health company MedPal AI (LON: MPAL) gained 14.5% to 3.55p. The company reported an annualised revenue run rate of £8.6m, including annualised SaaS revenues of £843,000, with 47,223 NHS prescriptions handled in July.
Metir (LON: MET) added 6.67% to 0.8p as it raised production of Microtox LX instruments and reported growing demand. Eleven instruments have been sold so far this year, with potential sales to UK water companies in prospect.
Floorcoverings distributor Likewise (LON: LIKE) dipped 2.45% to 30.25p. The company doubled its retail offer to £4m at 28.5p per share, with the offer closing at 18:00 on the day. A prior placing and subscription had already been raised to £28.5m. Vulcan Two (LON: VUL) fell 11.8% to 225p after forecast 2026 revenues were trimmed 4% to £38.9m and the pre-tax profit forecast was cut from £1.9m to £1.1m due to additional staff costs and duplicated running costs from integrating three acquisitions.
For FIH, the key near-term test is the 28 August shareholder vote. A rejection would leave the group holding a loss-making logistics unit with no obvious alternative buyer identified.
