Numis Expects First-Half Profit "Significantly Ahead" Year-On-Year

29th Mar 2018 10:53

LONDON (Alliance News) - Numis Corp PLC said on Thursday that revenue and profit for its first half are expected to be "significantly ahead" of a year before, and was its positive on its start to the second half.

The broker said it has delivered a strong first half for the six months ending Saturday, with revenue and profit expected to be "significantly ahead" of the comparable period last year, although "below the record performance achieved in the second half of the prior year".

Transaction volumes across Capital Markets and M&A activities have been strong throughout the period and, in combination with higher average deal fees, Corporate Broking & Advisory delivered revenue "materially higher" than the first half of the prior year.

Equities also delivered a strong performance, achieving revenue in line with a year before "notwithstanding the introduction of MiFID II" at the beginning of 2018.

The outlook for the business remains positive, Numis said, with a strong near term pipeline of transaction opportunities expected to support a robust start to the second half.

Numis will report its half-year results on May 4.

Shares in Numis were up 1.3% at 364.00 pence on Thursday.

---

Related Shares:

NUM.L