Half Year Trading Update

Cavendish PLC

13 October 2026

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the “UK MAR”) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company’s obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

13 October 2026

Cavendish plc
(“Cavendish” and together with its subsidiary undertakings, the “Group”)

Half Year Trading Update

Cavendish, a leading UK investment bank, today issues a trading update in respect of the six-month period ended 30 September 2026.

Against the current market backdrop of increased macroeconomic challenges, the Group revenue for the period is expected to be about £22.8m.

Our revenue mix remains balanced across all service lines including public and private M&A, ECM and trading activity. We have been active in the LSE’s new Private Securities Market, including Veremark, Moneybox, Wayve and Oxford Science Enterprises transactions. The Group has maintained its market leading position, supporting the largest number of AIM quoted companies and has continued to increase the average market capitalisation of retained clients. Investment in our origination capability is delivering results, with a noticeable step up in the number of new private M&A and private growth capital mandates won in the period.

Outlook

Despite challenging conditions in the year to date, we are increasingly seeing good prospects being generated from several areas of targeted investment in the prior periods, including our business outside London.  We have a healthy pipeline of both public and private transactions, including IPOs. However, as we have seen in the first half of the year, completion timetables, and therefore revenue visibility, remain difficult to predict. Against this backdrop, we will continue to exercise strict cost controls.

Contacts

Cavendish (Management)    Tel: [phone]

Julian Morse, Co-Chief Executive Officer   [e-mail]

John Farrugia, Co-Chief Executive Officer   

Ben Procter, Chief Financial Officer

Spark Advisory Partners (Nominated Adviser)  Tel: [phone]

Matt Davis

Cavendish (Broker)     Tel: [phone]

Matt Lewis

Hudson Sandler (PR adviser)    Tel: [phone]

Dan de Belder/Rebekah Chapman

 

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