31 Mar 2017 07:00
EMBARGOED FOR RELEASE
31st March 2017 at 7.00 am
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Numis Corporation Plc
Trading Update
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Friday 31st March 2017 at 7.00am: Numis Corporation Plc ("Numis") is today issuing a trading update in respect of the six months ending 31st March 2017.
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The steady rise in UK equity markets has been helpful to our Equities revenues, comprising institutional commissions and trading, which continue to outperform historic levels.
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Conversely, we have seen a paucity of primary equity issuance in the UK market as a whole and the increase in M&A activity has yet to fully benefit our top line. Whilst we are not immune to such conditions, the corporate side of our business has experienced higher transaction volumes in non-primary activity than the same period last year, reflecting the quality of our client base.
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Net income from our strategic investments has outperformed the first half of 2016 and we continue to explore opportunities for re-cycling the portfolio where we see attractive investment propositions, which are strategically relevant.
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As a result, total income will be moderately below the first half of last year.
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We have a number of corporate transactions which are due to complete in April 2017 and based on the strength of our pipeline, we remain confident in the outturn for the full year.
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The announcement of Numis' half year results for the six months ending 31st March 2017 will be made on Monday 8th May 2017.
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ENDS
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Contacts
Alex Ham and Ross Mitchinson Co-CEOs 020 7260 1425
Simon Denyer, Group Finance Director 020 7260 1225
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Brunswick:
Gill Ackers 020 7404 5959
Simone Selzer 020 7404 5959
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Grant Thornton UK LLP (Nominated Adviser):
Philip Secrett 020 7728 2578Harrison J Clarke 020 7184 4384
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Notes for Editors
Numis is a leading corporate advisory and stockbroking group offering a full range of research, execution, corporate broking and corporate finance services to companies quoted in the UK and their investors.Â
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