Numis Expects Stronger Second Half On Robust Third-Quarter Performance

(Alliance News) - Stockbroker Numis Corp said Friday it expects profit and revenue for the second ...

Alliance News 3 July, 2020 | 10:05AM
Email Form

(Alliance News) - Stockbroker Numis Corp said Friday it expects profit and revenue for the second half of its financial year to the end of September to be ahead of the first half, due to a good pipeline of transactions.

For the third quarter to the end of June, Numis's revenue was materially ahead of each of the two previous quarters, due to strong performances in both Investment Banking and Equities.

Investment Banking was buoyed by a rise in capital markets transaction volumes, more than offsetting the decline in merger & acquisition deals and initial public offerings.

Also, average deal fees were substantially highern as Numis completed capital raisings for larger corporate clients such as ASOS PLC, Unite Group PLC and Ocado PLC.

Meanwhile, the Equities arm kept up its positive momentum achieved in the first half. Strong trading gains more than offsetting a decline in market volumes from elevated highs at the peak of the Covid-19 pandemic.

"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," Numis commented.

Shares in Numis were up 2.4% at 319.50 pence on Friday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Numis Corp PLC 297.50 GBX 5.50 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies