(Alliance News) -Â Numis Corp PLC on Tuesday said momentum has continued into its new financial year.
The stockbroker, ahead of its annual general meeting being held on Tuesday, said its strong performance in the second half of the 2020 financial year has been maintained in the first four months of the 2021 financial year. Revenue is around 50% ahead year-on-year in the four months to January 31, with all areas of the business performing well.
Investment Banking revenue has continued to be strong despite the absence of Covid-related fund raising activity in the period, Numis noted.
"Average deal fees have increased due to a number of high-value capital markets transactions, both public and private, in the Technology and Digital Consumer sectors where Numis benefits from a strong client base and a network of international growth investors," the company said.
Numis added that advisory revenue is ahead of the comparative period, and the outlook for further UK merger & acquisition activity appears "positive".
Meanwhile, the firm said that while Brexit will have a "minimal impact" on its short-term financial performance, it believes that comprehensive EU market access is "strategically important" for the business in the longer term. Accordingly, Numis intends to establish an EU-based office in the next 12 months.
"We are well positioned to benefit from current market conditions, as demonstrated by the high volume of IPOs we have completed in recent weeks. The deal pipeline for the remaining two months of the first half is encouraging and we are focused on sustaining the positive momentum across the business," said Numis.
Shares in Numis were up 0.9% at 335.00 pence in London on Tuesday.
By Lucy Heming;Â lucyheming@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
