Research from Hardman & Co, Hardman & Co

Hardman & Co

Research from Hardman & Co

Investment research on quoted companies and funds

Hardman & Co is a multi-disciplinary financial consultancy and investment research firm, employing highly experienced analysts and professionals with a broad range of capital markets expertise. Our clients are public and private businesses as well as fund managers, ranging from start-ups to £1 billion+ market capitalisations. Hardman & Co offers corporate research & consultancy, serving the needs of both public and private companies. We produce gold-standard research with a global reach for trading and investment companies, as well as providing market commentary and analysis. In addition, we carry out a number of bespoke investment-related assignments, including due diligence on bond listings, assessments of private company valuations and other corporate advisory services. We engage with the market through traditional and digital media, offering illuminating video content on corporate management strategy, results communication, interviews and in-house sector discussion.

Thematic (Sector/Industry)

<ul>
<li>The Hardman &amp; Co Healthcare Index (HHI) has been running since 2009.</li>
<li>Its main function is to highlight the attractions of life sciences investments over the long term.</li>
<li>After three years of annual declines, the HHI rebounded 17.6% to 469.1 in 2025.</li>
</ul>


The Hardman &amp; Co Healthcare Index (HHI) has been running since 2009.
Its main function is to highlight the attractions of life sciences investments over the long term.
After three years of annual declines, the HHI rebounded 17.6% to 469.1 in 2025.


Hardman & Co Healthcare Index: 2025 – Index rose, but another tough year

Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Equity Bottom-Up

<ul>
<li>The retailer of fresh cream celebration cakes reports full year results to 31 March 2026.</li>
<li>Revenue increased 39.5% to £59.69m, EBITDA was up 39.9% to £10.55m, there was a 16.5% increase in PBT to £6.87m, leading to a 21.1% increase in underlying EPS to 15.97p and a 5.9% increase in the dividend to 7.2p.</li>
<li>Revenue growth was supported by opening 37 new stores to now total 310, with organic growth 9.3% ahead. </li>
</ul>


The retailer of fresh cream celebration cakes reports full year results to 31 March 2026.
Revenue increased 39.5% to £59.69m, EBITDA was up 39.9% to £10.55m, there was a 16.5% increase in PBT to £6.87m, leading to a 21.1% increase in underlying EPS to 15.97p and a 5.9% increase in the dividend to 7.2p.
Revenue growth was supported by opening 37 new stores to now total 310, with organic growth 9.3% ahead. 


Cake Box Holdings PLC - Hybridan Small Cap Feast: 30 June 2026

<ul>
<li>CT Automotive Group 25.50p £16.93m (CTA.L) The designer, developer and supplier of interior components to the global automotive industry updates on trading.</li>
<li>The Group expects to report revenues for December FY25 of at least $113m, in line with current market expectations, and the profit before tax is expected to be at least $10.0m.</li>
<li>This is the third consecutive year of improvement in underlying profit before tax. Net debt at 31 December 2025 is expected to be $7.7m. </li>
</ul>


CT Automotive Group 25.50p £16.93m (CTA.L) The designer, developer and supplier of interior components to the global automotive industry updates on trading.
The Group expects to report revenues for December FY25 of at least $113m, in line with current market expectations, and the profit before tax is expected to be at least $10.0m.
This is the third consecutive year of improvement in underlying profit before tax. Net debt at 31 December 2025 is expected to be $7.7m. 


Tinybuild Inc - Hybridan Small Cap Feast: 5 February 2026

<ul>
<li>12th January: The Smarter Web Company (AQUIS: SWC) announces its intention to cancel its Admission to trading of its ordinary shares on the Aquis Growth Market and seek admission onto the Main Market.</li>
<li>Subject to shareholder approval, the Cancellation and Admission are expected to take place on 3 February.</li>
<li>12 December: Ultimate Products (ULTP.L) the owner of a number of leading homeware brands including Salter and Beldray has announced its intention to move from the Main Market to AIM. </li>
</ul>


12th January: The Smarter Web Company (AQUIS: SWC) announces its intention to cancel its Admission to trading of its ordinary shares on the Aquis Growth Market and seek admission onto the Main Market.
Subject to shareholder approval, the Cancellation and Admission are expected to take place on 3 February.
12 December: Ultimate Products (ULTP.L) the owner of a number of leading homeware brands including Salter and Beldray has announced its intention to move from the Main Market to AIM. 


United Kingdom

Futura Medical is a pharmaceutical company specializing in the research, development, and global commercialization of innovative consumer-focused sexual health products. Its lead product, Eroxon, is an over-the-counter topical gel for erectile dysfunction, and it also has products like WSD4000 for female sexual dysfunction in development. The company was founded in 1997 and is headquartered in Guildford, United Kingdom.

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Futura Medical (FUM LN)

Hardman & Co Healthcare Index: 2025 – Index rose, but another tough year

The Hardman & Co Healthcare Index (HHI) has been running since 2009.Its main function is to highlight the attractions of life sciences investments...

Hardman & Co

Cake Box Holdings PLC - Hybridan Small Cap Feast: 30 June 2026

The retailer of fresh cream celebration cakes reports full year results to 31 March 2026. Revenue increased 39.5% to £59.69m, EBITDA was up 39.9%...

Hybridan

Tinybuild Inc - Hybridan Small Cap Feast: 5 February 2026

CT Automotive Group 25.50p £16.93m (CTA.L) The designer, developer and supplier of interior components to the global automotive industry updates on...

Hybridan

Tasty Plc. - Hybridan Small Cap Feast

The Smarter Web Company (AQUIS: SWC) announces its intention to cancel its Admission to trading of its ordinary shares on the Aquis Growth Market...

Hybridan

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