Numis Corporation said revenue from its core activities has grown by 14% in the year to Sept. 30 to reach record levels, and is comfortably above £100m for the first time in the group's history. Although activity in the UK equity market was somewhat impacted by the Brexit vote during the company's H2, Numis completed a further 19 equity raises, including 3 IPOs. "This brings the total number of equity deals in which we acted to 46 for the year with funds raised just below £1.9 billion," Numis said in a trading update. "Corporate activity within our client base continued during the year and saw the completion of 26 pure advisory mandates. "Consequently, combined revenues from equity issuance and advisory activities grew by 15%, surpassing the record levels achieved last financial year. "Despite M&A activity amongst our clients, the number of corporate clients for whom we act continues to grow with net additions of 15 during the year bringing the total to 198. "Our equity sales, research and execution activities also performed well during the year, increasing combined institutional commission and trading revenues by 13% year-on-year. "We continue to invest in our people in order to ensure that the provision of high quality advice, research and execution continues to define our approach to offering the best possible service to our corporate and institutional clients."
-2.50p (-0.98%)delayed 07:52AM