Hardman & Co

We provide independent investment research and advice that helps companies communicate with investors, wherever they are.

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Hardman & Co Research on #REALESTATECREDITINVESTMENTS

$RECI’s FY’26 update highlights a maintained 3p quarterly dividend, resilient credit quality and conservative leverage, with clear plans to restore dividend cover over time.

Read our report, here: https://t.co/LhkhJQUg6Z

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In our latest Insight, Richard Angus, Head of Business Development at Hardman & Co, explores why growing investor confidence is creating new opportunities in the UK private company market despite ongoing uncertainty.
Read the article here: https://t.co/e1In1ST0x3

#research

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This week's Sunday Summary features our July Monthly, including Richard Angus on improving #investment sentiment as attractive valuations drive renewed market activity, plus Keith Hiscock's insights into the changing business #funding landscape. Read more: https://t.co/j17osWMdsm

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In this clip from our Private Company #Valuations Breakfast with pro-manchester, Richard Angus explores the rise in #AIM delistings, the role of #PISCES, and how #liquidity is reshaping valuations and #investor confidence.

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Following @Cavendish_plcFY26 results, our latest research from Jason Streets highlights resilient performance despite challenging UK #smallcaps. With FY27E forecasts broadly unchanged, we see meaningful upside potential from current levels.

https://t.co/LIxPb3uZo8

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@icgenterprise continues to demonstrate strength of a defensive growth strategy, with resilient FY'26 results, a well-positioned portfolio & encouraging realisation prospects. Despite global uncertainty, its current discount appears difficult to justify.

https://t.co/cY18V0UhoU

[Hardman & Co @HardmanandCo]

In our July Hardman & Co Monthly Insight, we explore why improving sentiment could help unlock investment and support the UK's recovery.

Download the July Monthly and article, here: https://t.co/3f4eykXPLC

#research #article #financials #investing

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Our latest Sunday Summary is now live featuring our note on Cavendish and a DirectorsTalk with Mark Thomas on ICG Enterprise Trust plc's FY'26 results.
Looking forward to our Private Company Valuations Breakfast with pro-manchester on Tuesday.
https://t.co/J1w9Guqw8x

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Q&A on #ICGENTERPRISETRUST. Analyst Mark Thomas discusses $ICGT's resilient performance, encouraging outlook and explains why its current discount appears anomalous given its performance, conservative NAV and outlook.
Listen here: https://t.co/NP6eXNGb76

#investing #research

[Hardman & Co @HardmanandCo]

$CAV $CAVENDISHPLC Hardman & Co publication: Solid performance in still tough markets

Cavendish reported solid FY26 results, doubling reported PBT while continuing to invest in growth.
Read our full report, here: https://t.co/LIxPb3uZo8

#research #investing #financials

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How are private market #valuations changing? #Investors are increasingly testing valuations against public market comparables and real transactional evidence, bringing private company valuations back to reality.
https://t.co/wFT6Uotqya

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The latest Hardman & Co #SundaySummary is out now, a recap of all our #research and #video published over the past seven days: https://t.co/oodDfRkBbI

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Neil Blankstone joins Richard Angus and Doug Lawson to discuss why #investors are shifting from "model thinking" to "market thinking", demanding realistic #valuations, stronger evidence and clear paths to value creation. #privatecompanies
https://t.co/VKmAmYz57B

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Keith Hiscock recently attended the @SCE_Club Awards, celebrating the achievements of the UK's sub-£350m market cap quoted companies. A great evening, with an insightful opening address from Gervais Williams, who was also awarded the Small Cap Champion Award #SCNAwards26

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Episode 3 of The #SaaSpocalypse is now live. Doug Lawson and Richard Angus discuss how #AI is impacting deal volumes, #valuations and capital deployment, and why software acquirers and #privateequity investors are responding differently. https://t.co/8piBl4Iiaj

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What happens to #SaaS #valuations if #AI agents make the traditional per-seat pricing model obsolete? In Ep2 of our PCV Forum series, Doug Lawson explores how tools could reshape software pricing, growth models & #investor expectations. https://t.co/I1TK59UYXb

[Hardman & Co @HardmanandCo]

The latest Hardman & Co #SundaySummary is out now, a recap of all our #research and #video published over the past seven days: https://t.co/ObqFNNlZif

[Hardman & Co @HardmanandCo]

Analyst interview on #NBPRIVATEEQUITYPARTNERS: Key takeaways from recent results

In this interview with #DirectorsTalk, Hardman & Co analyst Mark Thomas discusses $NBPE’s performance, outlook and opportunities across the private equity sector.
Listen: https://t.co/uwBbOGXpoz

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$ICGT #ICGENTERPRISETRUSTPLC
Hardman & Co publication: FY’26 results: look to future realisations

ICGT’s latest report highlights the strength of its defensive growth strategy and a positive medium-term outlook. Read our report, here: https://t.co/cY18V0UhoU

#research #invest

[Hardman & Co @HardmanandCo]

In the latest Private Company Valuation Forum, Richard Angus and Doug Lawson discuss deeper due diligence, longer deal timelines, why strategic buyers are more cautious than #PE, and how #AI is reshaping #investment decisions in software markets. https://t.co/khpcngPwmt