Cavendish Financial (CAV)

Sector:

Financials

Index:

FTSE AIM All-Share

 10.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 14.30
  • 52 Week Low: 6.25
  • Currency: UK Pounds
  • Shares Issued: 385.69m
  • Volume: 183,062
  • Market Cap: £40.50m

Cavendish Financial flags significant second-half growth

By Josh White

Date: Thursday 04 Apr 2024

LONDON (ShareCast) - (Sharecast News) - Cavendish Financial said in an update on Thursday that in the second half of its financial year it experienced significant growth, with revenues expected to reach £34.5m, representing an increase of around 77% compared to the pro forma revenue of £19.5m in the first half.
The AIM-traded firm, formerly known as finnCap Group, said that as a result, it expected its statutory revenue for the entire year to be around £47.5m, up 44% year-on-year.

On a full-year pro forma basis, revenue was projected to be about £54m, up from £50.5m in the prior financial year.

The board said the newly-merged team at Cavendish delivered a second-half performance that exceeded expectations, driven by the completion of multiple deals across all segments of the business.

This strong performance also helped strengthen the company's balance sheet.

As of 31 March, Cavendish Financial's cash reserves stood at about £20.8m, up from £12.3m at the half-year mark.

The firm had also successfully secured annualised synergies amounting to £7m, and was continuing to generate additional savings stemming from the merger.

Those efforts hd led to a substantial reduction in the run-rate cost base of the merged group.

"Whilst the interest rate cycle appears to have peaked, conditions continue to impact demand for UK equities, making deal execution in ECM challenging across all market participants," the Cavendish Financial board said in its statement,

"However, private and public merger and acquisition [activity] has remained buoyant in the second half, and our pipeline across both ECM and M&A remains good."

At 1126 BST, shares in Cavendish Financial were up 32.05% at 11.42p.

Reporting by Josh White for Sharecast.com.

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CAV Market Data

Currency UK Pounds
Share Price 10.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 14.30
52 Week Low 6.25
Volume 183,062
Shares Issued 385.69m
Market Cap £40.50m

CAV Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.41% above the market average42.41% above the market average42.41% above the market average42.41% above the market average42.41% above the market average
22.94% above the sector average22.94% above the sector average22.94% above the sector average22.94% above the sector average22.94% above the sector average
Price Trend
12.04% above the market average12.04% above the market average12.04% above the market average12.04% above the market average12.04% above the market average
7.96% above the sector average7.96% above the sector average7.96% above the sector average7.96% above the sector average7.96% above the sector average
Income
12.72% above the market average12.72% above the market average12.72% above the market average12.72% above the market average12.72% above the market average
23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average
Growth
73.52% below the market average73.52% below the market average73.52% below the market average73.52% below the market average73.52% below the market average
55.34% below the sector average55.34% below the sector average55.34% below the sector average55.34% below the sector average55.34% below the sector average

CAV Dividends

  Latest Previous
  Final Final
Ex-Div 19-Sep-24 22-Sep-22
Paid 15-Oct-24 07-Oct-22
Amount 0.25p 1.15p

Trades for 31-Oct-2024

Time Volume / Share Price
16:10 181 @ 11.00p
14:12 6,388 @ 10.00p
10:46 150,000 @ 10.16p
10:55 200 @ 10.00p
10:55 20 @ 10.00p

CAV Key Personnel

Chair Lisa Gordon
CFO Ben Procter

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