Numis Corporation PLC Annual General Meeting (2437W)
07 February 2017 - 10:32PM
UK Regulatory
TIDMNUM
RNS Number : 2437W
Numis Corporation PLC
07 February 2017
TUESDAY 7 FEBRUARY 2017 AT 11.30 AM
Numis Corporation Plc ("Numis")
Annual General Meeting ("AGM")
The Board of Numis announces today, 7 February 2017, at its
Annual General Meeting that Gerald Corbett, (non-executive
Chairman) reported:
"2016 was another good year for Numis. Financial performance was
strong and we surpassed the record revenues generated in 2015 with
revenue growth of 15% year-on-year. This helped to produce a 21%
year-on-year increase in earnings per share which enabled us to
recommend an increase in the final dividend, bringing the total
dividend for 2016 to 12.0p (up 4% on 2015 and the highest in the
Groups' history).
This financial performance was underpinned by the strength of
our client relationships with both corporates and institutions
alike. During a year in which stock market performance was mixed
and corporate activity was muted, Numis was, once again, at the
forefront of equity fund raising in the UK. The strength of our
franchise was demonstrated in the 2016 Thomson Reuters Extel Survey
in which Numis was voted Number 1 UK Small and Mid Cap Brokerage
Firm by both companies and institutions for the fourth year in
succession.
Succession planning was a key feature of 2016 culminating in a
change in Chief Executive. Oliver Hemsley was succeeded by Alex Ham
and Ross Mitchinson who assumed their role as Co-Chief Executives
with effect from 1 September 2016 with Oliver remaining on the
Board as a full time executive. Having planned this transition for
some time, we are delighted that the executive team remains as
focused as ever on the future success of the business.
Since the start of our 2017 financial year overall market
conditions have been broadly positive. The gradual rise in UK
equity markets has been helpful to our Equities revenues which are
currently running above their 2016 run rate. Conversely, there has
been a paucity of equity issuance in the UK and we are only just
seeing a pick-up in M&A activity. Against this backdrop we have
completed 19 equity finance transactions together with 15 advisory
mandates so far this financial year.
While uncertainties surrounding a 'hard' Brexit coupled with the
implications of the new Trump administration will persist for some
time to come, we remain encouraged by general market sentiment and
our deal pipeline which includes both fund raising and M&A
prospects for the coming year.
As previously announced, this will be my last AGM as Chairman of
the Board and I would like to take this opportunity to thank all
the staff and executive team for their drive and determination in
propelling the business to ever greater heights. We expect to
appoint a new Chairman shortly once the required regulatory
approvals have been received and will make an announcement to the
market at that time.
Your Board will continue to take steps to strengthen the
franchise whilst maintaining an unwavering focus on the quality of
our people and our corporate client list, providing high quality
independent advice and maintaining trusted relationships with
institutions. This should position Numis well to enjoy future
success"
7 February 2017
END
Contacts
Alex Ham and Ross Mitchinson Co-CEOs 020 7260 1425
Simon Denyer, Group Finance Director 020 7260 1225
Brunswick:
Gill Ackers 020 7404 5959
Simone Selzer 020 7404 5959
Grant Thornton UK LLP (Nominated Adviser):
Philip Secrett 020 7728 2578
Harrison J Clarke 020 7184 4384
Notes for Editors
Numis is a leading corporate advisory and stockbroking group
offering a full range of research, execution, corporate broking and
corporate finance services to companies quoted in the UK and their
investors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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