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 FY December 2025 Trading update reports continued improvement from the Interims which are in line with market expectations.</li>
<li>Revenue advanced 24% to £14.9m, with gross margins stable and an adjusted EBITDA of £1m, which included acquisition costs.</li>
<li>2026 is starting well and with an improved order book.</li>
</ul>


The FY December 2025 Trading update reports continued improvement from the Interims which are in line with market expectations.
Revenue advanced 24% to £14.9m, with gross margins stable and an adjusted EBITDA of £1m, which included acquisition costs.
2026 is starting well and with an improved order book.


Hybridan Research: 05-02-2026: Petards Group PLC (PEG.L): Trading Update

<ul>
<li>Petards Defence has over 70 years' experience working with the UK MOD and its prime contractors.</li>
<li>Having supplied and supported many equipment types over its long history, it is uniquely placed to provide the critical range of specialist skills required by the defence sector to support the equipment used by the UK’s armed forces.</li>
<li>It has established a strong reputation for being a responsive, flexible and reliable partner in delivering challenging military programmes.</li>
</ul>


Petards Defence has over 70 years' experience working with the UK MOD and its prime contractors.
Having supplied and supported many equipment types over its long history, it is uniquely placed to provide the critical range of specialist skills required by the defence sector to support the equipment used by the UK’s armed forces.
It has established a strong reputation for being a responsive, flexible and reliable partner in delivering challenging military programmes.


Hybridan Research: Petards Group plc: 2026 Pipeline Advances

<ul>
<li>The European fintech fund announces its unaudited Half Year Results for the six months ended 30 September.</li>
<li>The Company currently trades at an approximately 45% discount to the NAV per share after the performance fee of 159.5p.</li>
<li>Cash reserves with no debt was £22.4m, down from £29.3m on 31 March 2025. </li>
</ul>


The European fintech fund announces its unaudited Half Year Results for the six months ended 30 September.
The Company currently trades at an approximately 45% discount to the NAV per share after the performance fee of 159.5p.
Cash reserves with no debt was £22.4m, down from £29.3m on 31 March 2025. 


Hybridan Small Cap Feast: 2 December 2025

<ul>
<li>The developer of advanced security, communication and surveillance systems announces a contract extension.</li>
<li>The extension worth £0.65m is with the Ministry of Defence for the continued support of Royal Air Force communication infrastructure.</li>
<li>The three-year extension to November 2028 increases the earnings visibility and adds to the defence services order book. </li>
</ul>


The developer of advanced security, communication and surveillance systems announces a contract extension.
The extension worth £0.65m is with the Ministry of Defence for the continued support of Royal Air Force communication infrastructure.
The three-year extension to November 2028 increases the earnings visibility and adds to the defence services order book. 


Hybridan Research in Brief: 21 November: Petards Group plc (PEG.L): Ministry of Defence Contract Extension

Cross Asset Strategy

<ul>
<li>In the latest bid to revitalise the UK’s IPO pipeline, the Government has reaffirmed its commitment to the creation of an 'an innovative new stock market' coined the Private Intermittent Securities and Capital Exchange System or PISCES for short.</li>
<li>PISCES plans to operate as a regulated platform for the intermittent trading of private company shares.</li>
<li>It will kick off with a five-year stint in the “FCA sandbox” which allows the Government to modify the platform or disapply certain parts of the legislative framework based on market feedback.</li>
</ul>


In the latest bid to revitalise the UK’s IPO pipeline, the Government has reaffirmed its commitment to the creation of an 'an innovative new stock market' coined the Private Intermittent Securities and Capital Exchange System or PISCES for short.
PISCES plans to operate as a regulated platform for the intermittent trading of private company shares.
It will kick off with a five-year stint in the “FCA sandbox” which allows the Government to modify the platform or disapply certain parts of the legislative framework based on market feedback.


PISCES – Shooting the Lights Out or Shooting Ourselves in the Foot?

United Kingdom

Petards Group develops, supplies, and maintains advanced security, surveillance, and ruggedized electronic technologies. The company operates across rail, traffic, defence, and communications markets, offering products like onboard video and sensing systems, automatic number plate recognition, and speed enforcement systems. Headquartered in Guildford, United Kingdom, the company was founded in 1992.

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Petards Group (PEG LN)

Hybridan Research: 05-02-2026: Petards Group PLC (PEG.L): Trading Update

The FY December 2025 Trading update reports continued improvement from the Interims which are in line with market expectations.

Hybridan

Hybridan Research: Petards Group plc: 2026 Pipeline Advances

Having supplied and supported many equipment types over its long history, it is uniquely placed to provide the critical range of specialist skills...

Hybridan

Hybridan Small Cap Feast: 2 December 2025

The European fintech fund announces its unaudited Half Year Results for the six months ended 30 September. The Company currently trades at an...

Hybridan

Hybridan Research in Brief: 21 November: Petards Group plc (PEG.L): Ministry of Defence Contract Extension

The extension worth £0.65m is with the Ministry of Defence for the continued support of Royal Air Force communication infrastructure.

Hybridan

PISCES – Shooting the Lights Out or Shooting Ourselves in the Foot?

It will kick off with a five-year stint in the “FCA sandbox” which allows the Government to modify the platform or disapply certain parts of the...

Hybridan

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Market Cap (USDm)

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