Numis Corporation - Q3 Trading Update
Q3 Trading Update
Numis is today issuing a trading update in respect of the three month period ended
Revenue for the third quarter was materially ahead of each of the first two quarters of the financial year with both Investment Banking and Equities delivering strong performances.
Investment Banking benefited from an increase in capital markets transaction volumes which more than offset the decline in M&A deals and absence of IPOs. In addition average deal fees were significantly higher during the quarter as we completed capital raisings for some of our larger corporate clients such as ASOS, Beazley, Ocado, and Unite.
Equities maintained the positive momentum achieved in the first half. During the quarter, market volumes declined from the elevated highs experienced during the peak of the COVID-19 crisis, but this was more than offset by strong trading gains during the period.
Revenue for the final quarter of the year will be dependent upon market conditions, which we expect will continue to be influenced, to an extent, by the evolving COVID-19 situation. However, we currently have a good pipeline of transactions, and we expect revenue and profits for the second half will be ahead of the first half.
The strong performance in recent months is a result of our long term commitment to building a high quality corporate client list combined with the extraordinary dedication of our staff who have continued to support our clients, and successfully execute transactions, whilst working remotely during very challenging times.
Andrew Holloway, Chief Financial Officer 020 7260 1266
Nick Cosgrove 020 7404 5959
Simone Selzer 020 7404 5959
Philip Secrett 020 7728 2578
Harrison Clarke 020 7184 4384
Jen Clarke 020 7865 2474
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 280 staff in London and New York.
This information is provided by RNS, the news service of the
Quick facts: Numis Corporation
Market Cap: £317 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE