(Sharecast News) - Investment banking group Numis said on Tuesday that its trading performance had improved in the last full financial year, with its "strong" second-half strong performance being maintained in the first four months of 2021.
Numis said revenue was approximately 50% ahead of the comparative period to 31 January, with all areas of the business performing well.
Investment banking revenues continued to be "strong" despite the absence of Covid-related fundraising activity in the period as vaccine-related news flow and a Brexit deal both contributed to "a favourable environment" for the equities business.
Numis stated it was "well-positioned" to benefit from current market conditions, as demonstrated by the high volume of initial public offerings it has completed in recent weeks, with the deal pipeline for the remaining two months of the first half also being branded as "encouraging".
As of 0925 GMT, Numis shares were up 0.90% at 335.0p.
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