Year End Trading Update

RNS Number : 8625G

Peel Hunt Limited

01 April 2022

 

1 April 2022

Peel Hunt Limited

("Peel Hunt" or the "Group")

Year End Trading Update

Peel Hunt, a leading UK investment bank, today announces a trading update for the financial year ended on 31 March 2022 ("FY22").

Performance

Following on from the trading update issued on 23 February 2022, the Group's trading performance has been ahead of revised analyst expectations, following a strong end to the year from our Execution & Trading business. As a result, revenue for the full year is expected to be around £131m.

Investment Banking delivered record revenues for the year, despite the slow-down in activity across global capital markets in Q4 FY22 as a result of rising inflation and interest rates, and the devastating war in Ukraine. Research and Distribution performed in line with our expectations and Execution & Trading volumes and activity have remained in line with expectations at a significantly higher level to the pre pandemic run rate. 

Outlook

Our pipeline of Investment Banking deals remains strong, albeit there is heightened execution and timing risk in the current environment. The number of retained corporate clients continues to grow, with 19 new clients added during the financial year.

We continue to benefit from our diversified business model, demonstrated by the increase in Execution & Trading revenues during periods of higher market volatility. In addition, our broad range of Investment Banking services and increased institutional commission market share leaves us well placed to benefit from any ongoing market dislocation.

We are continuing to invest in the business to drive long-term growth, having made good progress against our strategic priorities. This includes progress towards establishing a platform and legal entity in the EU and ongoing investment in our digital strategy and proprietary technology.

Notice of full year results

The Company intends to publish its full year results for the financial year ended 31 March 2022 on 9 June 2022.

For further information, please contact:

Peel Hunt  via MHP	[phone]
Steven Fine, CEO Sunil Dhall, CFOO
MHP (Financial PR)	[phone]
Andrew Jaques
Charlie Barker	[e-mail]
Robert Collett-Creedy
Grant Thornton UK LLP (Nominated Adviser)	[phone]
Colin Aaronson

Keefe, Bruyette & Woods (Corporate Broker)

Alistair McKay                                                                            [phone]

Alberto Moreno Blasco

Fred Walsh

Dennis Towers

Notes to editors:

Peel Hunt is a leading specialist in UK Investment Banking, ranked number one broker for UK mid and small-cap companies in Institutional Investor's latest Europe Survey. Our purpose is to nurture and guide people through the evolution of business.  We achieve this through a proven, joined-up approach that consistently delivers value to UK corporates, global institutions and trading counterparties alike.

We have 163 corporate clients (including 33 in the FTSE 100 and FTSE 250), with an average market capitalisation of approximately £653m. Our award-winning research is distributed to over 1,235 institutions across the UK, Europe and North America. Our trading platform makes markets in over 10,000 instruments in 42 markets and is an increasingly important provider of trade execution services to the UK retail platforms and brokers.

 

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