2 Oct 2017 07:32
2nd October 2017
Numis Corporation Plc
Trading Update
Monday 2nd October 2017 at 7.00am: Numis Corporation Plc ("Numis") today issued a trading update relating to the year ended 30th September 2017.
Our second half trading performance was very strong and recorded revenue 47% higher than the first half of 2017 and 38% higher than the second half of 2016. Consequently, full year revenue has grown by 15% versus prior year, and it is anticipated that profit will show similar levels of growth.
Our Corporate Broking & Advisory business ("CB&A") completed 98 transactions in total (2016: 86) which included equity fund raises totalling £2.5 billion, up 38% on prior year (2016: £1.8 billion). Revenue from CB&A activities has grown by 15% versus prior year.
Our Equities business performed well. Against a background of generally positive equity markets, combined institutional commission and trading revenues increased by 15% year-on-year. We continue to work closely with our institutional clients and believe the firm is well positioned as the implementation of MiFID II draws closer.
Numis will announce full preliminary results for the year ended 30th September 2017 on Wednesday 6th December 2017.
Alex Ham and Ross Mitchinson, Co-Chief Executive Officers, said:
"We are pleased to report that the second half was our best on record in terms of both revenue and operating profit. In addition, we have increased our focus on supporting unquoted companies and playing a key role in developing the capital markets which support them.
Our deal pipeline is strong and we remain determined to support ambitious companies of all sizes seeking capital and high quality advice to grow, whilst simultaneously investing in our people, platform and relationships. Whilst we cannot predict the direction of the market or the health of the equity issuance environment, there is good momentum in the business and we look forward to the future with confidence."
ENDS
Contacts
Numis Corporation:
Alex Ham & Ross Mitchinson 020 7260 1245
Co-Chief Executive Officers
Brunswick:
Nick Cosgrove 020 7404 5959
Simone Selzer 020 7404 5959
Grant Thornton UK LLP (Nominated Adviser):Philip Secrett 020 7728 2578
Samantha Harrison 020 77865 2411Harrison J Clarke 020 7184 4384
Notes for Editors
Numis is a leading independent corporate advisory and stockbroking group offering a full range of research, execution, corporate broking and advisory services to companies and their investors