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Numis Confident Amid Very Strong Start To Year And Promising Pipeline

LONDON (Alliance News) - Numis Corp PLC said Tuesday it has experienced a "very strong" start ...

Alliance News 6 February, 2018 | 11:19AM
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LONDON (Alliance News) - Numis Corp PLC said Tuesday it has experienced a "very strong" start to the year with higher volumes and fees compared to the prior year.

The broker said that since the start of October, revenue has been "significantly ahead" of the same period last year with its seeing "continued momentum" across both of its businesses. Both the Equities and Corporate Broking & Advisory sides of the firm saw "robust trading" during the period.

The AIM-listed firm saw an increase in overall transaction volumes and "materially" higher average fees compared to the prior year. Numis did emphasise, however, that this was compared to a "relatively slow start" to the previous year.

In Corporate Broking & Advisory, Numis was seeing a "pick-up" in clients looking to access the equity capital markets as well as greater mergers and acquisitions related revenue.

During the period, Numis acted on the December 2017 Sabre Insurance GBP287.5 million initial public offering, as well as the GBP281.3 million cash offer for SQS Software Quality Systems AG by Assystem Technologies SAS also in December.

Its Equities unit was also seeing "good" performances delivering revenue "materially" ahead of the prior year. Despite the introduction of MiFID II regulations in early January, Numis said it has been "encouraged by the level of engagement" from its institutional clients.

Numis added its pipeline remains "promising" with IPOs, capital raisings and mergers & acquisitions opportunities.

"Converting this will, as ever, depend on favourable market conditions continuing," Numis cautioned in a statement. "However we believe the business is well positioned following a strong start to the financial year."

Shares in Numis were 2.2% lower at 319.00 pence on Tuesday.

By Ahren Lester; ahrenlester@alliancenews.com.

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Numis Corp PLC 241.50 GBX 0.42 -

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