Shares round-up: latest results from 2026 high-flyers

The momentum of discoverIE Group (LSE:DSCV) shares after a 50% surge in two months and a run of gold price-fuelled upgrades by Ramsdens Holdings (LSE:RFX) today set a high bar for their results.

The FTSE 250-listed customised electronics firm consolidated its recent gains by reporting record annual profits and a strong outlook statement, while the inclusion of another special dividend helped the precious metals buyer and pawnbroker to trade at a fresh all-time high.

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The shares of discoverIE reached lunchtime 5p lower at 773p, which compares with the new 870p target of Shore Capital and the unchanged 1,000p position of Peel Hunt.

The company, whose customers have included wind power firm Vestas and technology solutions business Leidos, highlighted a strong recovery from a bout of industry destocking as fourth-quarter orders rose 14% for a 5% improvement across the year to 31 March.

Adjusted profits lifted 4% to £51.9 million as the operating margin dipped to 13.8% but the company said it remained on track for its medium-term ambition of 17%.

Chief executive Nick Jefferies, who has been in charge since 2009, said the new financial year had started well amid strong growth in orders and sales momentum. He added: “We remain focused on generating strong compounding growth through the cycle.”

Shares rose 21% between 30 March and the eve of a strong year-end trading update on 17 April before the stock market then reacted positively to the third of a run of high-growth and margin-accretive acquisitions announced on 19 May.

The stock now trades at about 12.6 times forward earnings, which is a slight premium to its 10-year median. However, Shore Capital said: “We believe this is justified by the continued strategic progress made and the scope for upgrades to 2027 forecasts.”

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The broker highlighted attractive end markets, with 30-40% of revenues driven by transport, renewables and medical segments and a similar percentage in industrial and connectivity.

It said: “The company is well placed to benefit from a range of long-term trends, including increased electrification in industrial applications and rail transportation, increased investment in renewable energy and an increase in AI and sensing in the medical sector.

“We see scope for a material uplift in earnings as markets recover and the operating margin expands.”

Peel Hunt lifted its forecasts for revenues and adjusted profits, adding that there is clear momentum for further upgrades with acquisitions an additional catalyst.

The shares of Ramsdens Holdings today extended their year-to-date rise to 26% at 489p as the AIM-listed company said half-year profits jumped 173% to a record £16.7 million.

With momentum continuing, it now expects to report a full-year figure of between £30 million and £33 million compared with the £16.2 million delivered for the 2025 financial year.

A series of upgrades due to strong trading and the benefit of the sustained high gold price have lifted the forecast surplus from more than £18 million at January’s annual results.

The group, which has 175 stores, operates in foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of pre-owned and new jewellery.

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The average gold price for the period was over 50% higher than a year earlier, with strong volumes meaning revenues and gross profit in the precious metals arm more than doubled.

Ramsdens said improved in-store conversations, additional digital advertising and a TV advertising campaign underpinned this strong performance.

The group said its success was not solely down to the increased gold price after it recorded an 18% increase in pawnbroking gross profit and 31% rise in retail jewellery.

The interim dividend has risen by 33% to 6p a share, with the exceptional performance in precious metals resulting in a special dividend of 3p compared with 0.5p the year before.

House broker Cavendish reiterated its Buy stance and target price of 596p following the results.

It said: “With this performance reflecting more than just a positive gearing to the gold price, we believe the market continues to underappreciate the quality of the group’s integrated offering and market share in the retail and pawnbroking businesses.”