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Staff costs push profits lower at Numis

Fri, 28th Sep 2018 14:48

(Sharecast News) - Investment banking group Numis Corporation updated the market on its trading for the year ending 30 September on Friday, reporting a "good trading performance" in the year, although it said revenue in the second half did not reach the level achieved in a "particularly strong" first half.The AIM-traded firm said that as a result, it expected to report that full-year core revenue increased by approximately 3%.Its retained client base delivered consistent transaction activity levels during the year, although average fees were lower and the timing of deals in Corporate Broking & Advisory (CB&A) impacted the second half.However, the board said CB&A revenue for the full-year was expected to be ahead of the prior year, with increased average fees year on year, and the directors "encouraged" by the immediate pipeline.Equities reportedly continued to perform well, and were also expected to deliver revenue ahead of the prior year with no material variation in performance in the second half compared to the first half.Following the introduction of MiFID II, Numis said it was "encouraged" by the response of its institutional clients and the lack of impact it had on its business.It said it believed the quality of its service, and the strength of its institutional relationships, enabled the business to maintain positive momentum through the period of regulatory transition.Following an unprecedented period of senior-level hiring, targeted at broadening its capabilities and the enhancement of client service across the business, headcount grew 16% over the year with staff related costs "materially higher" than the prior year.As a result, profits were expected to be lower than last year."Investment in talented individuals across the business has been a key priority during the year as we seek to strengthen and diversify the business for the future," said co-chief executive officers Alex Ham and Ross Mitchinson in a statement."Our track record and reputation has been a significant factor in our ability to attract highly respected individuals to the business."Ham and Mitchinson said they believed Numis was "very well positioned" to capture further market share in the near term."Whilst deal related revenue was lower in the second half, our pipeline for the coming months is very strong and we are excited about the prospects for the business as we approach 2019."Numis said it would announce preliminary results for the year ending 30 September on 5 December.
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6 May 2022 11:24

Numis first half hit by challenging market conditions

(Alliance News) - Numis Corp PLC said on Friday its first half performance was hurt by tricky macroeconomic conditions against a record comparator a year prior.

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6 May 2022 07:41

Numis confident in outlook after weaker first half

(Sharecast News) - Numis reported a 39% improvement in advisory revenues in its half-year results on Friday as it worked to diversify its investment banking business, although total revenue was down 35.8% to £74.2m.

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29 Apr 2022 16:04

UK earnings, trading statements calendar - next 7 days

Monday 2 May 
no events scheduled 
Tuesday 3 May 
Blackrock Greater Europe Investment Trust PLCHalf Year Results
BP PLCQ1 Results
Camellia PLCFull Year Results
Card Factory PLCFull Year Results
Cardiff Property PLCHalf Year Results
Intelligent Ultrasound Group PLCFull Year Results
Learning Technologies Group PLCFull Year Results
McColl's Retail Group PLCFull Year Results
Wednesday 4 May 
Andrews Sykes Group PLCFull Year Results
Apax Global Alpha LtdTrading Statement
Aston Martin Lagonda Global Holdings PLCQ1 Results
boohoo Group PLCFull Year Results
Dianomi PLCFull Year Results
Direct Line Insurance Group PLCTrading Statement
e-Therapeutics PLCFull Year Results
Flutter Entertainment PLCQ1 Results
International Personal Finance PLCTrading Statement
JD Wetherspoon PLCTrading Statement
Johnson Service Group PLCTrading Statement
OSB Group PLCTrading Statement
Personal Group Holdings PLCTrading Statement
Schroder Oriental Income Fund LtdHalf Year Results
Smiths News PLCHalf Year Results
Tribal Group PLCTrading Statement
UK Commercial Property REIT LtdTrading Statement
WANdisco PLCFull Year Results
Thursday 5 May 
abrdn Latin American Income Fund LtdHalf Year Results
AIB Group PLCTrading Statement
Barratt Developments PLCTrading Statement
Derwent London PLCTrading Statement
Domino's Pizza Group PLCTrading Statement
Endeavour Mining PLCQ1 Results
Hansard Global PLCTrading Statement
Helios Towers PLCQ1 Results
Hiscox LtdTrading Statement
IMI PLCTrading Statement
James Fisher & Sons PLCTrading Statement
John Wood Group PLCTrading Statement
Melrose Industries PLCTrading Statement
Mondi PLCTrading Statement
Morgan Advanced Materials PLCTrading Statement
Morgan Sindall Group PLCTrading Statement
Next PLCTrading Statement
Rathbones Group PLCTrading Statement
Reach PLCTrading Statement
Shell PLCQ1 Results
Trainline PLCFull Year Results
Trifast PLCTrading Statement
Tyman PLCTrading Statement
Virgin Money UK PLCHalf Year Results
Vitec Group PLCTrading Statement
Wheaton Precious Metals CorpQ1 Results
Friday 6 May 
Beazley PLCTrading Statement
InterContinental Hotels Group PLCQ1 Results
International Consolidated Airlines Group SAQ1 Results
Numis CorpHalf Year Results
Spirent Communications PLCTrading Statement
  
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1 Apr 2022 09:32

IN BRIEF: Numis interim trading due to fall below expectations

Numis Corp PLC - London-based investment bank - Says revenue in its financial first half, which ends March 31, is now expected to be 36% below the previous year's figure at GBP74 million. Says performance within the Investment Banking division was hit by a decline in equity capital markets activity, despite a strong revenue performance from M&A and Growth Capital Solutions. Within the Equities division, challenging market conditions in recent weeks have hurt the profitability of the company's trading book. As a result, Equities revenue for the first half is expected be around 20% below the previous year.

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1 Apr 2022 07:50

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(Alliance News) - Stocks in London got off to a positive, albeit cautious, start on Friday with investor focus lying on a US labour market update later in the day.

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1 Apr 2022 07:48

Numis interim revenues more than a third below H121 levels

(Sharecast News) - Investment banking group Numis Corporation said first-half revenues were expected to be roughly £74.0m, approximately 36% below its record interim performance a year earlier.

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1 Apr 2022 06:49

LONDON MARKET PRE-OPEN: Sanne loss widens on Apex takeover costs

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24 Feb 2022 15:00

IN BRIEF: Numis adds Flutter Entertainment risk officer to board

Numis Corp PLC - London-based stockbroker and investment bank - Hires Richard Hennity as independent non-executive director, starting immediately. Hennity is chief legal & risk officer of the international division of FTSE 100 gambling operator Flutter Entertainment PLC, previous to which he held senior positions at lender HSBC Holdings PLC. Subject to regulatory approval, Hennity will chair the Numis board's risk committee.

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8 Feb 2022 12:36

LONDON MARKET MIDDAY: Stocks mixed as BP and Ocado contrast

LONDON MARKET MIDDAY: Stocks mixed as BP and Ocado contrast

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8 Feb 2022 11:46

AIM WINNERS & LOSERS: Joules up on upbeat outlook; Numis quarter slow

AIM WINNERS & LOSERS: Joules up on upbeat outlook; Numis quarter slow

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8 Feb 2022 10:04

Numis suffers from investor jitters over inflation and interest rates

Numis suffers from investor jitters over inflation and interest rates

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8 Feb 2022 09:11

Inflation and interest rates dampen second quarter for Numis

(Sharecast News) - Numis said in a trading update on Tuesday that revenue for its first quarter was in line with the "strong" second half performance of the 2021 financial year.

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4 Feb 2022 16:11

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

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