The positive trading momentum that G4M described in both its post-close update and then FY25 results has continued apace. This builds on the improved trading performance delivered in H2 FY25. G4M had previously referenced double-digit sales growth, with the Q1 performance now quantified at an impressive 27% ahead of last year to end-June. Even more encouraging is the company statement that traction has continued into Q2 to date. This strong performance has led the group to increase its expectations for FY26. While no formal guidance has been issued at this stage, we increase our FY26E adjusted EBITDA forecast by 7% to £12.0m.