Ian Conway

Shares in AIM-listed semiconductor products firm IQE (LON:IQE) jumped 10% after it increased its FY sales forecast on strong demand. Revenue is now expected to grow by 30% to around £130 million against a previous forecast of a 20% increase. The firm said H1 trading had exceeded forecasts, with sales now expected to hit at least £64 million.

Facilities management firm Mitie Group (LON:MTO) has a greed a £3.1 billion cash takeover proposal from UK peer OCS. The deal values MITIE shares at 221.6p, including a 3.1p final dividend for FY26, or a 47% premium to last night’s close. Bringing together OCS and Mitie would create one of the largest private-sector UK firms with around £8.5 billion in annual revenue. It would also consolidate OCS’s position in managing government, defence, healthcare and infrastructure facilities.

UK self-storage operator Big Yellow Group (LON:BYG) posted a 2% increase in Q1 like-for-like revenue, continuing the trend FY25/26 trend. Like-for-like occupancy in the quarter to June dipped 0.2%, while average rent per square foot rose 3%. Occupancy across the group’s 113 stores increased by 161,000 square feet or 2.4% of the maximum lettable area at 30 June. That compared with a 47,000 square foot or 0.5% increase at the same point last year.