Numis full-year revenue up 14%

(ShareCast News) - In a trading update for the year ended 30 September, Numis said revenue from its core activities was up 14% from the previous year, hitting record levels and comfortably above £100m for the first time in the group's history. Numis said that while activity in the UK equity market was somewhat impacted by the Brexit vote in the second half, it completed a further 19 equity raises, including three initial public offerings.This brings the total number of equity deals in which it acted to 46 for the year with funds raised just under £1.9bn.Corporate activity within the group's client base continued during the year, with the completion of 26 pure advisory mandates. As a result, combined revenues from equity issuance and advisory activities were 15% higher, beating the record levels achieved last financial year.Despite M&A activity amongst its clients, Numis said the the number of corporate clients for whom it acted continues to grow with net additions of 15 bringing the total for the year to 198.Numis said its equity sales, research and execution activities also performed well, increasing combined institutional commission and trading revenues by 13% on the year. Co-chief executive officers Alex Ham and Ross Mitchinson said: "It is pleasing to report that, following a record first half, the business continued to perform well during our second half despite the market-wide impact on equity issuance following the Brexit vote. "Our current deal pipeline is encouraging and we remain determined to support UK companies of all sizes seeking capital to grow, whilst simultaneously building long-term relationships with companies and investors."At 0950 BST, the shares were up 4.9% to 229.75p.