Alternative Investment Market liquidity is improving both in terms of average daily trades and average daily value of trades. This is despite the reducing number of companies on the junior market with many larger companies moving to the Main Market.
The average daily value of trades in the first half of this year is £231.1m. The average daily number of trades so far this year is 58,632.
In terms of average daily trades, each month of this year is well above the number in the corresponding month in 2025. There was a dip in number in June, but it was still comfortably higher than in June 2025.
Australia-focused gold miner and explorer Greatland Resources is the largest company on AIM and it is also the most actively traded, taking over from airline and tour operator Jet2.
SigmaRoc returns to acquisition trail
Building materials supplier SigmaRoc (SRC) is expanding in the Baltics through the acquisition of Akcine Bendrove Dolomitas for €110m – funded from the company’s debt facility and by a share issue.
The deal brings a reserve of dolomitic lime, which is used in steel production. Annual production is 3.4 million tonnes and there are 25 years of proven and permitted reserves. Last year’s EBITDA was €18m. This deal could enhance 2027 earnings by 2%.
In the first half of 2026, SigmaRoc revenues grew 2% to £523m. The like-for-like decline was 1%. Volumes are improving. Underlying earnings improved 12% to 5.2p/share. Forecast 2026 pre-tax profit is £173.3m.
IQE to move back to Main Market
Semiconductor wafers manufacturer IQE (IQE) interim revenues recovered, and it plans to move back to the Main Market in the first half of 2027.
In the first half of 2026, revenues rose from £45.3m to £64.6m, and this helped to reduce the loss from £16m to £8.2m. The cash outflow from operating activities was £6.4m. The recent fundraising meant that net cash was £30.2m at the end of June 2026.
Wireless revenues were two-fifths higher. Photonics revenues grew 45% to £38.5m, helped by increased defence demand and growth in data centre business. Longer-term, there will be opportunities with wearable sensing applications, augmented reality and autonomous vehicles.
