RNS3 Jul 2025 10:26
Stable..
We have had a strong start to our new financial year as market conditions have begun to improve. We have seen higher revenue generation in our Institutional and notably our Execution Services businesses, together with a significant contribution from M&A transactions. Consequently, Group revenue for Q1 FY26 is comfortably ahead of the equivalent prior year period, which itself was a good quarter.
We continue to have a strong pipeline of M&A transactions, with a number of situations both announced and in process. It remains to be seen whether a more general pick up in equity issuance and IPO activity will follow. Whilst the macroeconomic background is hard to predict, investor confidence appears to be increasingly resilient, and we are mandated on a number of transactions that are expected to complete in the second half of our financial year should market conditions be supportive.
We have also continued to add excellent clients to our franchise and, together with many exciting growth companies, we now act for 55 FTSE 350 companies, 50 in the FTSE 250 and 5 in the FTSE 100.
We continue to strengthen our international distribution capabilities, adding an office in Abu Dhabi to our international network in the coming months alongside New York and Copenhagen. This is critical to our clients, as it provides access to global investors who are an increasingly important constituent of listed UK company share registers.