There were seven AIM companies that moved to the Main Market in 2025. There have been maximum of four companies moving, and sometimes only two, each year in previous years.
The halving of inheritance tax (IHT) relief appears to have reduced the attraction of AIM. The remaining benefits are weighed up against the potentially wider investor base because some institutions are not able to invest in AIM companies.
There is also the potential to be included in an index that has greater profile that any AIM index. many of the companies have moved into the FTSE 250 index and attracted investment from index funds. Veterinary practices operator CVS Group, which moved in January, is joining the FTSE 250 index on 23 March,
Craneware profit growth
Hospital financial and administrative software provider Craneware is growing profit in double digits in the first half. Craneware supplies software to two-fifths of the hospitals in the US and it is adding new modules to the core product. Cash is building up despite the higher dividend.
In the six months to December 2026, EBITDA was 14% ahead at $23.5m on revenues 65 higher at $105.7m, while the dividend has been raised 11% to 15p/share. Net cash was $47.8m at the end of 2025.
A rise in full year EBITDA from $65.3m to $69m is forecast. There is potential for an upgrade as the financial year progresses. Craneware is investing in Artificial Intelligence.
Renewables sale for Hargreaves
Hargreaves Services is selling a second tranche of renewable energy assets. This will generate £6.8m and should complete before the end of May 2026. It will add £5.3m to profit in the current financial year. There are just over £20m of renewable assets still to be sold. Net cash could be £17m at the end of May 2026.
The latest disposal follows news of a new contract for work on the Lower Thames Crossing, This will help the underlying services business to grow and build up the underlying profit of the business.
Cavendish has increased its 2025-26 pre-tax profit forecast to £30.2m. This does mean that the forecast for next year has been cut to £18.8m.
