Inclusive Investor Relations, Equity Development

Equity Development

We help companies communicate with all investors by providing research and access to management. Equity Development makes Investor Relations genuinely inclusive.

Inclusive Investor Relations

We help companies communicate with all investors. We help all investors better understand those businesses.

Equity Bottom-Up

Mercia Asset Management / Equity Bottom-Up

<ul><li>H1-26 (to 30 Sep 25) saw EBITDA jump 14% y-o-y to £4.2m and EBITDA margin up from 20.8% to 24.6%.</li><li>Impressively, this was achieved in a muted period for portfolio activity, with revenue slightly down from £17.6m to £17.2m.</li><li> AUM was marginally up at £2.0bn.</li></ul>

H1-26 (to 30 Sep 25) saw EBITDA jump 14% y-o-y to £4.2m and EBITDA margin up from 20.8% to 24.6%.Impressively, this was achieved in a muted period for portfolio activity, with revenue slightly down from £17.6m to £17.2m. AUM was marginally up at £2.0bn.

Mercia Asset Management: EBITDA & margin up again, undervaluation rises