Hardman & Co Research: Showing virtue of flexible cost base
Summary by AI BETAClose
X
Cavendish reported core PBT of £0.8m for the half-year to September 2026, down from £2.0m a year earlier, with revenue down 20% and costs reduced by 16%; Hardman & Co has cut its core net income forecast to £2.2m from £3.9m, the stock is trading at 4.3x EV/NOPLAT 2027E and the company has declared no interim dividend.
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