14 Jul 2021 07:00
Numis Corporation Plc ("Numis")
Trading Update
14 July 2021
Numis is today issuing a trading update in respect of the three-month period ended 30 June 2021.
We delivered a strong Q3 performance with revenue in excess of £50m. Whilst slightly lower than the H1 run rate, this represented an improved performance on the comparative quarter in FY20 which featured much of the COVID related deal activity. Investment Banking and Equities are continuing to benefit from the investment made in enhancing the quality of our client base and talent pool, as well as the growth initiatives we have undertaken.
All products across our Investment Banking offering are performing well as a result of our strategy to diversify the business by product and geography. Overall, year to date deal volumes and average deal fees are materially ahead of the comparative period. Whilst we have seen a strong contribution from IPOs in the quarter, M&A advisory and Growth Capital Solutions for private companies continue to deliver strong momentum. We believe these areas in particular offer significant opportunity to expand and improve the quality of our deal flow. Whilst early in its development, we believe there is also a clear opportunity to expand our Equity Capital Markets offering outside the UK.
The Equities business delivered yet another robust revenue performance, consistent with recent quarters. Market volumes and activity levels declined slightly relative to the very strong second quarter, however we have continued to gain market share in UK equities and we benefited from another positive trading book performance.
Whilst we expect deal volumes to reduce over the summer in line with the typical seasonal trend, the pipeline for the remainder of the year, and into next, remains very strong. During the quarter we have recruited additional investment banking talent, predominantly at the mid-ranking levels, and we will continue to add further headcount over the next few months to support our ambitions. This investment in talent is consistent with our strategy to develop the capabilities of our Investment Banking team and provide further capacity to support longer term growth.
Following the very strong trading over the first nine months, we look forward to reporting a record performance for the full year.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014
Contacts:
Numis Corporation:
Noreen Biddle-Shah, Head of Corporate Communications 020 7260 1441
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
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 has offices in London and New York.