3 Jul 2020 07:00
Numis Corporation Plc ("Numis)
Q3 Trading Update
3 July 2020
Numis is today issuing a trading update in respect of the three month period ended 30 June 2020.
Revenue for the third quarter was materially ahead of each of the first two quarters of the financial year with both Investment Banking and Equities delivering strong performances.
Investment Banking benefited from an increase in capital markets transaction volumes which more than offset the decline in M&A deals and absence of IPOs. In addition average deal fees were significantly higher during the quarter as we completed capital raisings for some of our larger corporate clients such as ASOS, Beazley, Ocado, and Unite.
Equities maintained the positive momentum achieved in the first half. During the quarter, market volumes declined from the elevated highs experienced during the peak of the COVID-19 crisis, but this was more than offset by strong trading gains during the period.
Revenue for the final quarter of the year will be dependent upon market conditions, which we expect will continue to be influenced, to an extent, by the evolving COVID-19 situation. However, we currently have a good pipeline of transactions, and we expect revenue and profits for the second half will be ahead of the first half.
The strong performance in recent months is a result of our long term commitment to building a high quality corporate client list combined with the extraordinary dedication of our staff who have continued to support our clients, and successfully execute transactions, whilst working remotely during very challenging times.
Contacts:
Numis Corporation:
Alex Ham & Ross Mitchinson, Co-Chief Executives 020 7260 1245
Andrew Holloway, Chief Financial Officer 020 7260 1266
Brunswick:
Nick Cosgrove 020 7404 5959
Simone Selzer 020 7404 5959
Grant Thornton UK LLP (Nominated Adviser):Philip Secrett 020 7728 2578
Harrison Clarke 020 7184 4384
Jen Clarke 020 7865 2474
Notes for Editors
Numis is a leading independent investment banking group offering a full range of research, execution, corporate broking and advisory services to companies and their investors. Numis is listed on AIM, and employs approximately 280 staff in London and New York.