Annual General Meeting

RNS Number : 2437W

Numis Corporation PLC

07 February 2017

 

 

 

TUESDAY 7 FEBRUARY 2017 AT 11.30 AM 

Numis Corporation Plc ("Numis")

Annual General Meeting ("AGM")

The Board of Numis announces today, 7 February 2017, at its Annual General Meeting that Gerald Corbett, (non-executive Chairman) reported:

"2016 was another good year for Numis. Financial performance was strong and we surpassed the record revenues generated in 2015 with revenue growth of 15% year-on-year. This helped to produce a 21% year-on-year increase in earnings per share which enabled us to recommend an increase in the final dividend, bringing the total dividend for 2016 to 12.0p (up 4% on 2015 and the highest in the Groups' history).

This financial performance was underpinned by the strength of our client relationships with both corporates and institutions alike. During a year in which stock market performance was mixed and corporate activity was muted, Numis was, once again, at the forefront of equity fund raising in the UK.  The strength of our franchise was demonstrated in the 2016 Thomson Reuters Extel Survey in which Numis was voted Number 1 UK Small and Mid Cap Brokerage Firm by both companies and institutions for the fourth year in succession.

Succession planning was a key feature of 2016 culminating in a change in Chief Executive. Oliver Hemsley was succeeded by Alex Ham and Ross Mitchinson who assumed their role as Co-Chief Executives with effect from 1 September 2016 with Oliver remaining on the Board as a full time executive.  Having planned this transition for some time, we are delighted that the executive team remains as focused as ever on the future success of the business.   

Since the start of our 2017 financial year overall market conditions have been broadly positive.  The gradual rise in UK equity markets has been helpful to our Equities revenues which are currently running above their 2016 run rate.  Conversely, there has been a paucity of equity issuance in the UK and we are only just seeing a pick-up in M&A activity. Against this backdrop we have completed 19 equity finance transactions together with 15 advisory mandates so far this financial year.

While uncertainties surrounding a 'hard' Brexit coupled with the implications of the new Trump administration will persist for some time to come, we remain encouraged by general market sentiment and our deal pipeline which includes both fund raising and M&A prospects for the coming year. 

As previously announced, this will be my last AGM as Chairman of the Board and I would like to take this opportunity to thank all the staff and executive team for their drive and determination in propelling the business to ever greater heights.  We expect to appoint a new Chairman shortly once the required regulatory approvals have been received and will make an announcement to the market at that time.   

Your Board will continue to take steps to strengthen the franchise whilst maintaining an unwavering focus on the quality of our people and our corporate client list, providing high quality independent advice and maintaining trusted relationships with institutions.  This should position Numis well to enjoy future success"

7 February 2017  

END

Contacts

Alex Ham and Ross Mitchinson Co-CEOs                                020 7260 1425

Simon Denyer, Group Finance Director                                     020 7260 1225

Brunswick:

Gill Ackers                                                                               020 7404 5959

Simone Selzer                                                                           020 7404 5959

Grant Thornton UK LLP (Nominated Adviser):             

Philip Secrett                                                                             020 7728 2578
Harrison J Clarke                                                                      020 7184 4384

Notes for Editors

Numis is a leading corporate advisory 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. 

 

END

 

 

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