1st Oct 2008 07:00
EMBARGOED FOR RELEASE
WEDNESDAY 1 OCTOBER 2008 AT 7.00 am
NUMIS CORPORATION PLC
TRADING UPDATE
Numis Corporation Plc ("Numis"), a leading British independent investment banking and broking group, today issued a trading update relating to the year ended 30 September 2008.
Expected Results for the Year Ended 30 September 2008
Numis expects profits before tax for the full year to 30 September 2008 to be in line with market expectations.
In view of recent market turbulence, the Board believes that it is helpful to emphasise the strength of Numis' position and recent trading performance.
Numis has generated an operating profit during the six months ended 30 September 2008
Numis has cash balances of £70m and no debt as at 30 September 2008
Numis has regulatory capital in excess of four times current requirements as at 30 September 2008
Since the recent onset of unprecedented turmoil in financial markets, Numis has seen a significant increase in secondary revenues as leading institutions seek to trade with robust counterparties
Oliver Hemsley, Chief Executive, said:
"With our strong balance sheet and no debt, Numis is in an excellent position to weather the current market turmoil. Our traditional investment banking and broking model with no proprietary trading or exposure to sub prime is proving attractive to corporate and institutional clients alike as they seek impartial advice and robust counterparties. Our strong financial position has enabled us to focus on looking after our existing clients and attracting new clients. We remain determined and committed to growing the business in these challenging market conditions."
1 October 2008
END
Contacts
Numis Corporation:
Oliver Hemsley, Chief Executive 020 7260 1256Bill Trent, Chief Financial Officer 020 7260 1333
Brunswick:
Gill Ackers / Carole Cable 020 7404 5959
PricewaterhouseCoopers LLP (Nominated Adviser):
Simon Boadle / Jon Raggett 020 7583 5000
Related Shares:
NUM.L