London, July 5, 2026, 21:05 BST
- Fiske Plc LON:FKE closed at 59.95p Friday, rising 4.26% according to Google Finance. Broker quotes had the spread at 55p-65p.
- About 9,500 shares traded Friday, roughly 0.08% of the 11.83 million shares outstanding.
- Fiske has a market cap near £7.1 million, which is below its most recent net asset figure of £11.2 million.
- Investors are watching to see if any post-June 30 year-end update comes out, after a slow week with no new official Fiske filings.
Fiske Plc LON:FKE shares finished Friday up 4.3% at 59.95p, a move that leaves the stock around 60p on most broker screens. The company, listed in London, trades as a stockbroker and wealth manager. London markets did not open on Sunday.
Trading was quiet. AJ Bell quoted a 55p bid and a 65p offer, leaving a 10p spread centered at a 60p mid. That’s 16.7% of the mid price. On Friday, the same page reported 9,500 shares traded. The FTSE AIM All-Share slipped 0.17% that day.
| July 3 market check | Fiske | Comparator / note |
|---|---|---|
| Mid/last price | around 60p | Google last was 59.95p |
| One-day move | up 4.35% on AJ Bell, up 4.26% on Google | FTSE AIM All-Share down 0.17% on AJ Bell |
| Volume | 9,500 shares | roughly 0.08% of shares out |
| Bid-offer | 55p / 65p | spread runs about 16.7% of mid |
| 52-week range | 52p to 85p | shares near the low end |
Liquidity has been a problem for a while. Fiske reported 11,829,859 ordinary shares in issue, with 42.37% not held by the public as of Nov. 25, 2025. J P Q Harrison held 20.22% and C F Harrison 16.81%, according to the shareholder list.
The investor focus is on valuation versus assets. Fiske’s interim balance sheet from December listed £11.2 million in net assets, £6.27 million in cash, and £6.04 million in investments at fair value through other comprehensive income. With a £7.1 million market cap, the stock changes hands at about 0.63 times net assets based on Fiske’s reported share count.
| Balance-sheet check | Latest figure | Per share | Versus £7.1 mln market cap |
|---|---|---|---|
| Market cap | £7.10 mln | roughly 60p | 100% |
| Net assets | £11.21 mln | 94.7p | 158% |
| Cash | £6.27 mln | 53.0p | 88% |
| Investments at fair value | £6.04 mln | 51.1p | 85% |
| Cash plus fair-value investments | £12.32 mln | 104.1p | 173% before liabilities |
The gap isn’t from forced selling. Fiske is still putting money into systems and controls after regulatory issues. The first half showed costs go through revenue fast. Revenue for the six months to Dec. 31 was £3.915 million, almost flat compared to £3.888 million last year. Operating expenses rose to £4.207 million from £3.594 million. That swung Fiske to a £292,000 operating loss, after a £294,000 profit a year ago.
| First-half results | Six months to Dec. 2025 | Six months to Dec. 2024 | Change |
|---|---|---|---|
| Revenue | £3.915 mln | £3.888 mln | +0.7% |
| Operating expenses | £4.207 mln | £3.594 mln | +17.1% |
| Operating result | £292,000 loss | £294,000 profit | £586,000 swing |
| After-tax result | £213,000 loss | £830,000 profit | £1.04 mln swing |
| AUM/admin assets | £950 mln | £880 mln at June 2025 | about +8% from June |
Then-chairman Tony Pattison and Chief Executive James Harrison said in the interim report the compliance and systems project “continues apace”. They reported assets under management and administration up to £950 million at Dec. 31 from £880 million at June’s end. Using Friday’s market value, Fiske trades at around 0.75% of those assets.
The regulatory overhang is making the asset discount tough to measure. Fiske entered a voluntary requirement deal with the Financial Conduct Authority in September 2025 after the regulator looked at its investment management monitoring controls. The VREQ limits some new-client onboarding and asset transfers while it’s active. Fiske said it doesn’t prevent service for existing clients or normal dividend payments.
The last board update was in March. Tony Pattison retired as chairman and executive director, but he’s still on the board as a non-executive director. Martin Perrin, who was already a non-executive director, stepped up to non-executive chairman. No further Fiske RNS showed up on the company’s regulatory-headlines page after the March 23 notice.
Looking to the week ahead, buyers will see if they still face a 55p-65p spread on a stock that trades at about 0.63 times its latest net asset value. Another point: will the company put out any update after its June 30 year-end? Last year’s update dropped those FY2025 guidance numbers—£7.9 million in revenue and about £1.4 million pre-tax profit—before interim costs shook up the market later on.
