LONDON (Alliance News) - Stockbroker and investment bank Numis Corp on Thursday said its revenue for the year to the end of September increased by around 5%, with a material improvement in trading for the company emerging in the second half.
Client activity was relatively strong in the second half, the company said, allowing Numis to work on a further 15 equity raisings, including five initial public offerings. This brings the total number of equity deals for the full year up to 38, including 11 IPOs.
Corporate activity in its client base also meant its advisory fees rose in the year, while revenue from its equity issuance and advisory work rose to the highest in its history.
Numis will publish full-year results to September 30 on December 2.
"Activity levels were buoyant throughout the year and our current deal pipeline is encouraging. Our corporate business continues to strengthen with additions to our client base and hires into our corporate broking and advisory team," said Chief Executive Oliver Hemsley.
"We will continue to support UK companies seeking capital to grow, whilst simultaneously building long-term relationships with companies and investors," he added.
Numis shares were untraded at 235.00 pence early Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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