4th Feb 2014 12:05
LONDON (Alliance News) - Numis Corporation PLC Tuesday said its revenues are well ahead of the same period last year, as it continues to benefit from buoyant stock market conditions.
Speaking at the company's annual general meeting earlier, Non-Executive Chairman David Arculus said the new financial year has started well, with momentum continuing to build in both the primary and secondary markets.
He said that Numis Corporation, the holding company of investment banking and broking business Numis Securities Ltd, has seen its revenues grow to well past the corresponding figures reported last year, while the deal pipeline is the strongest it has been for quite some time.
"In order to maintain the quality of our offering and our focus on client service, we have made a number of strategic hires since the year end and will continue to invest in our people to ensure the firm remains well resourced to benefit from the favourable market conditions," Arculus told attendees at the meeting.
"Our franchise has never been stronger. London Stock Exchange data shows Numis ranked 2nd for main market IPOs completed in 2013 and Adviser Rankings shows Numis ranked second for total number of stock market clients. These achievements are testament to the quality and commitment of our talented people and our continued focus on building long term relationships based on trust," Arculus added.
Reporting in early December its results for its most-recent financial year, ended September 30, 2013, Numis said its revenue grew by GBP27.6 million to GBP77.1 million, while pretax profit grew more than five-and-a-half times to GBP22.6 million.
Numis shares were Tuesday quoted at 296.50 pence, down 2.50 pence, or 0.8%.
By Samuel Agini; [email protected]; @samuelagini
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