Trading Update

RNS Number : 3455P

Numis Corporation PLC

03 October 2011

 

Numis Corporation Plc

Trading Update

Monday 3rd October 2011 at 7.00am: Numis Corporation Plc ("Numis"), a leading independent investment banking and stockbroking group, is today issuing a trading update relating to the year ended 30 September 2011.

Against a background of volatile and extremely challenging markets, Numis is pleased to report an improved core performance in the second half of the year. Overall revenues were up 6% on the first half of 2011 and 45% ahead of the second half of 2010. Operating costs remain under control and are little changed from the prior year.

Combined institutional commission and trading revenues performed well with double digit percentage growth year on year. This is the third successive year of increased revenue from this area.

Deal related income recovered strongly in the second half, benefitting from a further 14 equity issuance transactions and increased M&A activity. For the year as a whole, deal related income was broadly in line with the previous year.

During the year, Numis continued to build its strong corporate franchise which covers a wide range of companies across 15 sectors of the market. At the year end, our corporate clients totalled 140.

Numis remains strongly capitalised with no external debt. As at 30 September, cash and cash collateral balances amounted to c. £45m, which is an improvement of £5m on the last reported position as at March 2011. We continue to maintain a regulatory capital position well in excess of the required minimum.

Oliver Hemsley, Chief Executive, said:

"Numis has performed well against a background of huge economic uncertainty, highly volatile markets and unrelenting competition. We see little change to these conditions in the near term but are confident that over the medium term we have the capital, the people, and the desire to succeed. The continuing strength of our corporate franchise will be critical to this success and we will continue to invest in building this whilst at the same time maintaining firm control of our costs overall."

ENDS

 Contacts:

Oliver Hemsley, Chief Executive	020 7260 1256
Brunswick:
Gill Ackers	020 7396 5382
Fiona Micallef-Eynaud	020 7936 7414
PricewaterhouseCoopers LLP (Nominated Adviser):
Simon Boadle	020 7583 5000
Jon Raggett	020 7583 5000

 

END

 

 

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