Numis Corporation PLC Trading Update (2442C)
28 September 2018 - 4:01PM
UK Regulatory
TIDMNUM
RNS Number : 2442C
Numis Corporation PLC
28 September 2018
28(th) September 2018 at 7.00 am
Numis Corporation Plc
Trading Update
Friday 28th September 2018 at 7.00am: Numis Corporation Plc
("Numis"), a leading independent investment banking group, today
issued a trading update relating to the year ending 30(th)
September 2018.
Numis delivered a good trading performance in the year, although
revenue in the second half did not reach the level achieved in a
particularly strong first half. Consequently, Numis is expected to
report that full year core revenue increased by approximately
3%.
Our retained client base delivered consistent transaction
activity levels during the year although average fees were lower
and the timing of deals in Corporate Broking & Advisory
("CB&A") has impacted the second half. However, CB&A
revenue for the full year is expected to be ahead of the prior year
with increased average fees year on year and we are encouraged by
the immediate pipeline.
Equities continues to perform well and is also expected to
deliver revenue ahead of the prior year with no material variation
in performance in the second half compared to the first half.
Following the introduction of MiFID II Numis has been encouraged by
the response of our institutional clients and the lack of impact it
has had on our business. We believe the quality of our service, and
the strength of our institutional relationships, have enabled the
business to maintain positive momentum through the period of
regulatory transition.
Following an unprecedented period of senior-level hiring,
targeted at broadening our capabilities and the enhancement of
client service across the business, headcount has grown 16% over
the year and staff related costs will be materially higher than the
prior year. Accordingly, profits are expected to be lower than last
year.
Numis will announce preliminary results for the year ending
30(th) September 2018 on Wednesday 5(th) December 2018.
Alex Ham and Ross Mitchinson, Co-Chief Executive Officers
said:
"Investment in talented individuals across the business has been
a key priority during the year as we seek to strengthen and
diversify the business for the future. Our track record and
reputation has been a significant factor in our ability to attract
highly respected individuals to the business. We believe Numis is
very well positioned to capture further market share in the near
term. Whilst deal related revenue was lower in the second half, our
pipeline for the coming months is very strong and we are excited
about the prospects for the business as we approach 2019."
ENDS
Contacts:
Numis Corporation:
Alex Ham & Ross Mitchinson, Co-Chief Executives 020 7260 1245
Andrew Holloway, Chief Financial Officer 020 7260 1266
Brunswick:
Nick Cosgrove 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 independent investment banking group offering
a full range of research, execution, corporate broking and advisory
services to companies in the UK and their investors.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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