Trading Update

RNS Number : 0967B

Numis Corporation PLC

31 March 2017

 

EMBARGOED FOR RELEASE

31^st March 2017 at 7.00 am

Numis Corporation Plc

Trading Update

Friday 31^st March 2017 at 7.00am: Numis Corporation Plc ("Numis") is today issuing a trading update in respect of the six months ending 31^st March 2017.

The steady rise in UK equity markets has been helpful to our Equities revenues, comprising institutional commissions and trading, which continue to outperform historic levels. 

Conversely, we have seen a paucity of primary equity issuance in the UK market as a whole and the increase in M&A activity has yet to fully benefit our top line.  Whilst we are not immune to such conditions, the corporate side of our business has experienced higher transaction volumes in non-primary activity than the same period last year, reflecting the quality of our client base.  

Net income from our strategic investments has outperformed the first half of 2016 and we continue to explore opportunities for re-cycling the portfolio where we see attractive investment propositions, which are strategically relevant. 

As a result, total income will be moderately below the first half of last year. 

We have a number of corporate transactions which are due to complete in April 2017 and based on the strength of our pipeline, we remain confident in the outturn for the full year.

The announcement of Numis' half year results for the six months ending 31^st March 2017 will be made on Monday 8^th May 2017.

ENDS

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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