Interim Results

Numis Corporation PLC
10 May 2002

              Embargoed for release at 07.00 am Friday 10 May 2002

                             NUMIS CORPORATION PLC

              Interim results for the 6 months ended 31 March 2002





Numis Corporation Plc ('Numis'), the investment banking and stockbroking
business, today announces its unaudited interim results for the six months ended
31 March 2002.



Highlights of the results



  • Profit before an exceptional item and tax of £3.7m (2001: £1.7m)
  • EPS (basic) of 22.7p (2001: 7.9p)
  • EPS (basic), excluding the exceptional item, of 17.8p (2001: 7.9p)
  • Cash resources of £11.7m (2001: £6.0m)
  • More than £180m raised for clients during the period
  • Policy of recruiting first class individuals and teams continues
  • Group reinstated in Cheapside offices after a 6 month absence due to a
    fire
  • Second half started well with 3 capital raisings totalling nearly £60m



Chief Executive's Comments



Commenting on the results, Oliver Hemsley, Chief Executive of Numis, said:



'We have had an excellent six months. Our strategy of concentrating on
specialist sectors and recruiting high quality individuals and teams is now
bearing fruit.  Although market conditions remain difficult, we are confident
that we will report further progress for the full year.'



Enquiries


Oliver Hemsley           Chief Executive          Numis Corporation Plc        020 7776 1500
Duncan Sweetland         Finance Director         Numis Corporation Plc        020 7776 1500
Tom Wyatt                                         Financial Dynamics           020 7831 3113




Chairman's and Chief Executive's Statement



We are pleased to report that the Group's turnover for the six months ended 31
March 2002 increased to £9.4m (2001: £4.7m) and profit before tax rose to £3.7m
(2001: £1.7m) before the exceptional profit of £1.05m from the sale of part of
our shareholding in London Stock Exchange plc. This is a strong performance
against a background of difficult market conditions.



Basic earnings per share were 22.7p (17.8p excluding the exceptional item)
against 7.9p for the equivalent period last year.  As at 31 March 2002, our cash
resources were £11.7m compared with £6.0m as at 31 March 2001 (including a near
cash investment of £5.2m).  Currently, we hold 265,000 shares in London Stock
Exchange plc which remain in our books at zero cost.



Over the period, we have raised in excess of £180 million on behalf of clients.
This activity has continued in the second half with further capital raisings
already totalling nearly £60m.  Our strategy of focusing on smaller and medium
sized UK companies and specialising in a number of sectors is beginning to bear
fruit.  As a result we are extending our services to a wider range of companies.



Commissions from our secondary market activities more than doubled during the
period.  This increase reflects our continuing focus on first class specialist
research and the addition of both new analytical teams and sales people.  Our
specialist sectors now include media, financials, insurance, retail and
consumer, food producers, support services, life sciences and, most recently,
high-tech engineering.



Over the period, our market making business also performed well in challenging
market conditions.  We now make markets in more than 120 stocks and will
increase this number in time with the expansion of our analytical coverage.  The
number of corporate relationships rose from 15 to 22 during the period and has
continued to rise since 31 March.



At the start of our financial year, we were still located at temporary offices
in the City following the fire at our Cheapside premises in May 2001.  In
December 2001, we returned to our refurbished offices, having also taken the
opportunity to reconfigure them to optimise our use of the space.



We are pleased that more than 60 per cent. of the staff at Numis are
shareholders.  We believe this is crucial in creating a cohesive and dynamic
business where the interests of employees and shareholders are aligned.  We
continue to seek to recruit on a selective basis high quality individuals, in
all areas of our business.  There is still much work to be done but progress is
being made.



Outlook



The second half has started well despite continuing difficult market conditions.
  We are optimistic for the prospects of the business in the longer term and are
confident that we will report further progress for the full year.


David Craig                                                 Oliver Hemsley
Chairman                                                    Chief Executive



10 May 2002



Consolidated profit and loss account

Unaudited results for the 6 months ended 31 March 02

                                            6 months       6 months           Year           Year           Year
                                               ended          ended          ended          ended          ended
                                           31 Mar 02      31 Mar 01      30 Sep 01      30 Sep 01      30 Sep 01
                                           Unaudited      Unaudited        Audited        Audited        Audited
                                                                          Ordinary    Exceptional          Total
                                                                        Activities          Items
                                                   £              £              £              £              £


TURNOVER                                   9,427,901      4,737,510      6,560,086         48,000      6,608,086

Administrative expenses                  (6,078,765)    (3,424,494)    (6,112,422)    (1,553,500)    (7,665,922)


OPERATING PROFIT/(LOSS)                    3,349,136      1,313,016        447,664    (1,505,500)    (1,057,836)

Share of associated undertaking's
operating profit/(loss)                      229,315        214,331       (43,474)              -       (43,474)

Exceptional items
- profit on disposal of tangible fixed             -              -              -        761,086        761,086
assets
- profit on disposal of fixed asset        1,055,654              -              -      1,504,560      1,504,560
investments


PROFIT ON ORDINARY ACTIVITIES
 BEFORE INTEREST AND AMOUNTS
 WRITTEN OFF INVESTMENTS                   4,634,105      1,527,347        404,190        760,146      1,164,336

Interest receivable and similar income       243,523        176,916        604,119              -        604,119
Amounts written off investments            (111,989)              -              -    (1,460,614)    (1,460,614)
Interest payable and similar charges           (297)              -        (1,437)              -        (1,437)

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION                            4,765,342      1,704,263      1,006,872      (700,468)        306,404

Taxation on profit on ordinary           (1,354,787)      (526,916)      (286,168)        200,694       (85,474)
activities


PROFIT ON ORDINARY ACTIVITIES
AFTER TAXATION                             3,410,555      1,177,347        720,704      (499,774)        220,930

Earnings per share
Basic                                           22.7 p          7.9 p                                        1.4 p
Diluted                                         19.8 p          7.6 p                                        1.3 p

Earnings per share, excluding
exceptional items
Basic                                           17.8 p          7.9 p                                        4.8 p
Diluted                                         15.5 p          7.6 p                                        4.3 p





Consolidated balance sheet

Unaudited as at 31 March 02


                                                              31 Mar 02           31 Mar 01         30 Sep 01
                                                              Unaudited           Unaudited           Audited

                                                                      £                   £                 £

Fixed Assets

Tangible fixed assets                                         1,080,999             408,319           614,245

Fixed asset investments                                         992,366           1,044,095           773,715

Investment in associated undertaking                            402,216             300,475           241,696
                                                              2,475,581           1,752,889         1,629,656
Current assets

Debtors                                                      17,861,826          15,813,675        19,850,956

Investments                                                     304,572           7,244,640         7,604,284

Cash at bank and in hand                                     11,694,160             817,524            97,437


                                                             29,860,558          23,875,839        27,552,677
Creditors

Amounts falling due within one year                        (16,566,931)        (11,792,648)      (16,823,680)


Net current assets                                           13,293,627          12,083,191        10,728,997


Net assets                                                   15,769,208          13,836,080        12,358,653


Capital and reserves

Share capital                                                 3,818,000           3,786,750         3,818,000

Share premium account                                         3,275,925           3,175,925         3,275,925

Profit and loss account                                       8,675,283           6,873,405         5,264,728


Shareholders funds                                           15,769,208          13,836,080        12,358,653






Notes



Accounting policies



The accounting policies that have been applied to the unaudited results are
consistent with the latest published audited accounts.



Earnings per share



Basic earnings per share is based on profit on ordinary activities after
taxation of  £3,410,555 (2001: £1,177,347), adjusted to £3,401,332  to remove
dividends held in the Employee Share Option Trust, on a weighted average number
of ordinary shares in issue during the period of  14,980,000  (2001:  14,875,833
 ). Diluted earnings per share assumes that options outstanding at the end of
the financial period were exercised at the beginning of the financial period
where the exercise price per share is less than the fair value of the price of
the share in the period.



Exceptional item



The profit on disposal of fixed asset investment of £1,055,654 relates to the
sale of 260,000 London Stock Exchange plc shares.



Dividend



The Group will pay no interim dividend (2001: Nil).



Audited results



The audited results for the year ended 30 September 2001 are an extract from the
latest published audited accounts and do not constitute the statutory accounts
as defined in Section 240 of the Companies Act 1985.  The published audited
accounts have been delivered to the Registrar of Companies and included the
report of the auditors that was unqualified.



Further copies



Copies of the interim statement will be sent to shareholders as soon as
practicable.  Copies of this announcement are available free of charge for one
month from:



The Company Secretary

Numis Corporation Plc

Cheapside House

138 Cheapside

London  EC2V 6LH





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