Hardman & Co Research on Cavendish plc: Steadily profitable in continuingly tough markets

Summary by AI BETAClose X

Cavendish PLC reported a profit before tax of £1.1 million for the half-year ending September 2025. Revenue increased by 3% on a comparable basis despite challenging market conditions for UK smaller companies. The adjusted pre-tax profit was £2.0 million, slightly exceeding the figure from the same period last year. The company's diversified revenue streams and strong cost control, which resulted in reduced costs over the period, contributed to the positive results. The stock is currently trading at 6.7 times EV/NOPLAT for 2026E and 3.8 times for 2027E.

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