AGM statement

RNS Number : 1431X

Numis Corporation PLC

05 February 2013

 



 

 

TUESDAY 5 FEBRUARY 2013 AT 11.00 AM 

Numis Corporation Plc ("Numis")

Annual General Meeting ("AGM")

The Board of Numis announces today, 5 February 2013, at the Annual General Meeting that Sir David Arculus, (Non-Executive Chairman) reported:

"Despite having to contend with a fifth successive year of extremely tough market conditions, Numis again produced an acceptable result in 2012 given the challenging background. Numis emerged from 2012 with a further increase in the quality and number of corporate clients which recently passed the 150 mark for the first time. We have also succeeded in diversifying our revenue streams, helped by our increased focus on the retail bond market which has already seen us launch four issues this new financial year.

The addition of what has now become the "Numis Smaller Companies Index" in 2012 should enhance our core franchise and broaden our position in the UK smaller and mid cap company sectors. These positive developments have been achieved within an overall reduction in our cost base, which continues to be tightly controlled.

In addition to cost control, management is also focused on maintaining a strong balance sheet. This has been further strengthened through the recent partial sale of around half our investment portfolio which realised over £10m in cash proceeds. Our current free cash position is in excess of £50m.

The current year has seen an encouraging start with revenues well ahead of the same period last year. This has been driven by an increase in institutional commissions and improved trading results. The recent improvement in market sentiment has also lead to an increase in our deal pipeline and there are early signs of the IPO market springing back to life. It is too early to say whether the New Year rally in equities is a false dawn or whether it really does herald a major global switch from bonds to equities. If a sustained rally does happen, Numis is well placed to benefit from the opportunities that will occur."

5 February 2013  

END

Contacts

Numis Corporation:             

Oliver Hemsley, Chief Executive                                            020 7260 1256
Simon Denyer, Group Finance Director                                 020 7260 1225

Brunswick:

Gill Ackers                                                                               020 7404 5959

Simone Selzer                                                                        020 7404 5959

PricewaterhouseCoopers LLP (Nominated Adviser):

Simon Boadle                                                                         020 7583 5000

Jon Raggett                                                                            020 7583 5000                                                                                                                                   

Notes for Editors

Numis is a leading independent merchant banking 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. 

 

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