Half Year Trading Update
H1 2026 revenue £22.8m expected; balanced service lines, healthy transaction pipeline, but uncertain completion timetables.
- Expected revenue H1 2026 £22.8m
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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.
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