1st Apr 2025 10:47
(Alliance News) - Peel Hunt Ltd on Tuesday said it expects to post an annual loss smaller than market expectations, despite a challenging second half of its financial year due to sluggish UK market conditions.
The London-based investment bank forecast revenue of around GBP90 million for the year to March 31, up 5% from GBP85.8 million a year earlier. It cited macroeconomic headwinds and low dealmaking volumes as reasons for a challenging six-month period, but noted actions taken to reduce costs helped mitigate losses.
Bloomberg reported last week that Peel Hunt is cutting around 10 jobs due to continued challenges in the UK financial markets.
"We expect to deliver a smaller loss before tax than market expectations," the London-based investment bank firm said in a trading update.
Peel Hunt said it made "good progress" on strategic goals and continued to attract mid-cap and growth companies, with 52 FTSE 350 clients now on its books, including five from the FTSE 100.
Looking ahead, the firm pointed to an "encouraging pipeline" of investment banking transactions, including mergers & acquisitions and initial public offerings, with a number of already announced M&A deals expected to complete in the first quarter of the new financial year.
The company plans to publish its full-year results on June 16.
Shares in Peel Hunt were down 0.6% at 78.00 pence in London on Tuesday morning.
By Eva Castanedo, Alliance News reporter
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