AGM Trading Update

RNS Number : 3769O

Numis Corporation PLC

09 February 2021

 

Numis Corporation Plc ("Numis")

AGM Trading Update

Tuesday 9 February 2021

Numis today provides the following trading update in relation to the four month period ended 31 January 2021. This statement is issued in advance of the Company's Annual General Meeting which is being held at 12.30pm today.

In FY20 our performance improved through the year and the strong performance of the second half has been maintained in the first four months of FY21.  Revenue is approximately 50% ahead of the comparative period to 31 January 2020 with all areas of the business performing well.

Investment Banking revenues have continued to be strong despite the absence of COVID-related fund raising activity in the period.  Average deal fees have increased due to a number of high value Capital Markets transactions, both public and private, in the Technology and Digital Consumer sectors where Numis benefits from a strong client base and a network of international growth investors. Advisory revenues are ahead of the comparative period and the outlook for further UK M&A activity appears positive. 

Vaccine related news flow and a Brexit deal have contributed to a favourable environment for the Equities business which has delivered both consistently strong trading profits, and Institutional Income ahead of the comparative period.  As previously indicated, Brexit will have a minimal impact on our financial performance in the short term, however we believe comprehensive EU market access is strategically important for the business in the longer term. Accordingly, we intend to establish an EU based office in the next 12 months.

We are well positioned to benefit from current market conditions, as demonstrated by the high volume of IPOs we have completed in recent weeks. The deal pipeline for the remaining two months of the first half is encouraging and we are focused on sustaining the positive momentum across the business.

Contacts:

Numis Corporation: 

Alex Ham & Ross Mitchinson, Co-Chief Executives     020 7260 1245

Andrew Holloway, Chief Financial Officer                                                                                     020 7260 1416

Brunswick:

Nick Cosgrove                                                                                                                                      020 7404 5959

Simone Selzer       020 7404 5959

Grant Thornton UK LLP (Nominated Adviser):
Philip Secrett   020 7728 2578

Harrison Clarke     020 7184 4384

Notes for Editors

Numis is a leading independent investment banking group offering a full range of research, execution, corporate broking and advisory services to companies and their investors.  Numis is listed on AIM, and employs approximately 290 staff in London and New York.

 

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