AIM liquidity improves in 2025
There were more trades in AIM shares in 2025 than in 2024 and it was the fourth highest figure in the history of the junior market (see this month's publication). Every month last year, the average number of daily trades was higher than the same month in 2024..
The number of companies on AIM fell to 619 as there were few new admissions and 84 cancellations. Of those cancellations, 37 companies chose to leave AIM predominantly because they did not fell that there was enough benefit from the quotation, although some companies were in the process of a solvent liquidation. There were also 28 takeovers.
There were 65 companies that had share prices that at least doubled last year. The Fiinu share price was 1,550% ahead.
Gear4Music bounces back
Musical instruments retailer Gear4Music has bounced back from a troubled couple of years. It is set for its best year since the Covid-boosted 2020-21.
In the six months to September 2025, revenues jumped from £61.7m to £80.7m, while a loss of £1.25m was turned into a pre-tax profit of £2.72m. Gear4Music was helped by smaller rivals going out of business. This helped grow revenues and also enabled the retailer to pick up stock at attractive prices that boosted margins. Net debt was £16m at the end of September 2025 as cash generated was invested in stock.
There is an upgrade to full year pre-tax profit from £5.5m to £6.7m.
Central Asia Metals production in line
Central Asia Metals copper, zinc and lead production was all within guidance range, although they were all lower than in 2024. The company is taking measures to fully understand the orebody at the Sasa project and reducing costs and improving efficiency.
In 2025, production at Sasa was 17,881 tonnes of zinc-in concentrate and 25,156 tonnes of lead-in concentrate. Guidance for 2026 is 18,000-20,000 tonnes of zinc-in concentrate and 26,000-28,000 of lead-in concentrate. The operational efficiencies should improve profitability.
There was 13,311 of copper produced at Kounrad last year and the guidance for 2026 is 12,000-13,000 tonnes.
