Trading update

RNS Number : 9779D

Numis Corporation PLC

06 February 2018

 

Numis Corporation Plc ("Numis") 

Embargoed for release 7.00 am, 6 February 2018

Numis today provides the following trading update in relation to the period from 1 October 2017.  This statement is issued in advance of the Company's Annual General Meeting which is being held at 12 noon today. 

Trading Update

Numis has experienced a very strong start to the year, with revenues significantly ahead of the comparable period last year and with continued momentum across the business. We have benefited from an increase in overall transaction volumes and materially higher average fees compared to a relatively slow start to the prior year. 

Encouragingly, our performance has been driven by robust trading across both the Equities and Corporate Broking & Advisory sides of the business. Our retained corporate client base continues to deliver high quality transaction activity, with our revenue growth being driven predominantly by a pick-up in clients accessing the equity capital markets and greater M&A derived revenue. Of note, we acted on the $546m equity raise for Catco Reinsurance, the IPO of Sabre Insurance Group and as Financial Adviser in relation to the £281m recommended cash offer for SQS Software Quality Systems AG.

Similarly, the Equities division has continued the good performance from the second half of the previous financial year and delivered revenue materially ahead of the same period last year. MiFID II came into effect on 3 January 2018 and whilst it is too early to fully assess the likely financial impact of the regulation, we are encouraged by the level of engagement, and response from our institutional clients which we believe is indicative of the overall strength of our research, sales and execution capability.

Our current pipeline is promising, including IPOs, capital raising and M&A opportunities. Converting this will, as ever, depend on favourable market conditions continuing.  However we believe the business is well positioned following a strong start to the financial year. 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

6 February 2018

END

Contacts

Alex Ham and Ross Mitchinson Co-CEOs                                          020 7260 1245

Andrew Holloway - Chief Financial Officer                                          020 7260 1266

Brunswick:

Nick Cosgrove                                                                                     020 7404 5959

Simone Selzer                                                                                      020 7404 5959

Grant Thornton UK LLP (Nominated Adviser):        

Philip Secrett                                                                                       020 7728 2578

Jen Clarke                                                                                           020 7865 2411

Harrison J Clarke                                                                                 020 7184 4384

 

END

 

 

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