Cavendish, formed through the 2023 merger of finnCap and Cenkos, has evolved from its broking roots into a fully-fledged investment bank. In this Hardman Talks interview, Hardman & Co’s CEO, Keith Hiscock, speaks with highly-experienced Hardman & Co analyst, Jason Streets, about Cavendish’s latest results, which show a return to profitability and a significant contribution from private company transactions – a growing focus for the company.
The discussion explores how Cavendish generates revenue, with only a small proportion now coming from trading and retainers, and the bulk derived from corporate transactions. Jason also examines the challenges facing UK small and mid-cap markets, including reduced listings, weak fund inflows and tax changes, while noting signs that valuations could be reaching a turning point.
Looking ahead, Jason shares forecasts and valuation insights, highlighting Cavendish’s strong cash position and potential for further growth if market conditions improve. The conversation offers valuable context for investors assessing the outlook for Cavendish and the broader UK small-cap sector.
Watch the video now to find out more.
Read Hardman & Co’s Initiation of Coverage on Cavendish.
