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>Petards Group PLC (PEG) announced it’s interim results for the half year ended 30 June 2025.</li>
<li>We have published research on this which is attached and a snapshot of the research is below.</li>
<li>The Affini acquisition, the third acquisition since 2016, has had a strong positive impact on the Interims results to June 2025, while the other divisions achieved either higher or similar revenues to last year.</li>
</ul>


Petards Group PLC (PEG) announced it’s interim results for the half year ended 30 June 2025.
We have published research on this which is attached and a snapshot of the research is below.
The Affini acquisition, the third acquisition since 2016, has had a strong positive impact on the Interims results to June 2025, while the other divisions achieved either higher or similar revenues to last year.


Hybridan Research: Petards Group plc: Positive Progress to a Re-rating

<ul>
<li>AIREA 23.00p £9.51m (AIEA.L) The UK design-led specialist flooring Company supplying both the UK and international markets announced a trading update for the six months ended 30 June 2025.</li>
<li>The Company reported the encouraging start to the year continued into the second quarter with Group sales for the Period 5.8% ahead of the prior year at £9.81m (H1 2024: £9.27m).</li>
<li>The UK and ROI delivered sales at the end of the Period 7.3% ahead of the prior year. As planned, the major investment in the Group's manufacturing facility is scheduled for completion by the end of Q3. </li>
</ul>


AIREA 23.00p £9.51m (AIEA.L) The UK design-led specialist flooring Company supplying both the UK and international markets announced a trading update for the six months ended 30 June 2025.
The Company reported the encouraging start to the year continued into the second quarter with Group sales for the Period 5.8% ahead of the prior year at £9.81m (H1 2024: £9.27m).
The UK and ROI delivered sales at the end of the Period 7.3% ahead of the prior year. As planned, the major investment in the Group's manufacturing facility is scheduled for completion by the end of Q3. 


<ul><li>From the Coalface For another fund manager special edition of Hybridan’s “view from the broker’s desk”, we are delighted to be joined by Andy Brough, Head of the Pan European Small and Mid-Cap team at Schroders.</li><li> Andy is responsible for managing the Schroder UK Mid 250 Fund since its launch in 1999 and the Schroder UK Smaller Companies Fund.</li><li>He became sole head of the team in 2016, having co-led since 2002.</li></ul>

From the Coalface For another fund manager special edition of Hybridan’s “view from the broker’s desk”, we are delighted to be joined by Andy Brough, Head of the Pan European Small and Mid-Cap team at Schroders. Andy is responsible for managing the Schroder UK Mid 250 Fund since its launch in 1999 and the Schroder UK Smaller Companies Fund.He became sole head of the team in 2016, having co-led since 2002.

Cap-XX Ltd - Hybridan Monthly, 1 July 2025

<ul>
<li>The finals to December 2024 contain a 6.5-month contribution from the £2.85m Affini acquisition which expanded the product range and deepened the client base.</li>
<li>This is Petards’ third acquisition since 2016 (QRO and RTS) and was paid for using cash held, utilisation of the overdraft, and the vendors received £326k of shares.</li>
<li>Non-dilutive progress is being made with this acquisition in diversifying the core rail division with complementary businesses.</li>
</ul>


The finals to December 2024 contain a 6.5-month contribution from the £2.85m Affini acquisition which expanded the product range and deepened the client base.
This is Petards’ third acquisition since 2016 (QRO and RTS) and was paid for using cash held, utilisation of the overdraft, and the vendors received £326k of shares.
Non-dilutive progress is being made with this acquisition in diversifying the core rail division with complementary businesses.


Hybridan Research: Petards Group plc: Poised for Progress

iFOREX Financial Trading / Equity Bottom-Up

<ul>
<li>Updated 10th June: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announced that its proposed IPO onto the Main Market, which was expected to occur in late June, will be briefly delayed.</li>
<li>A routine thematic compliance inspection commenced earlier this year in the BVI, which was disclosed in the Company's Registration Document, requires additional time to enable finalisation ahead of the IPO.</li>
<li>The inspection process is close to completion and the Company anticipates only a short delay to the IPO timetable. </li>
</ul>


Updated 10th June: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announced that its proposed IPO onto the Main Market, which was expected to occur in late June, will be briefly delayed.
A routine thematic compliance inspection commenced earlier this year in the BVI, which was disclosed in the Company's Registration Document, requires additional time to enable finalisation ahead of the IPO.
The inspection process is close to completion and the Company anticipates only a short delay to the IPO timetable. 


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: Petards Group plc: Positive Progress to a Re-rating

Petards Group PLC (PEG) announced it’s interim results for the half year ended 30 June 2025. We have published research on this which is attached...

Hybridan

Hybridan Small Cap Feast: 29/07/2025

AIREA 23.00p £9.51m (AIEA.L) The UK design-led specialist flooring Company supplying both the UK and international markets announced a trading...

Hybridan

Cap-XX Ltd - Hybridan Monthly, 1 July 2025

From the Coalface For another fund manager special edition of Hybridan’s “view from the broker’s desk”, we are delighted to be joined by Andy...

Hybridan

Hybridan Research: Petards Group plc: Poised for Progress

The finals to December 2024 contain a 6.5-month contribution from the £2.85m Affini acquisition which expanded the product range and deepened the...

Hybridan

Hybridan Small Cap Feast: 23/06/2025

The Company reports the IPO has received strong investor interest and based on firm orders received to date, the institutional offer is heavily...

Hybridan

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