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Numis Corporation (NUM)

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Friday 29 March, 2019

Numis Corporation

Trading Update

RNS Number : 3977U
Numis Corporation PLC
29 March 2019
 

Numis Corporation Plc ("Numis")

Trading Update

 

Embargoed for release 7.00 am, 29 March 2019

 

 

Friday 29 March 2019 at 7.00am: Numis Corporation Plc ("Numis") is today issuing a trading update in respect of the six month period ending 31 March 2019.

 

Despite the political situation remaining uncertain, Numis has benefitted from an improvement in trading in recent weeks with a number of Investment Banking deals having completed in March, including capital markets transactions for Just Group and Randall & Quilter, and the merger of Primary Health Properties and MedicX.  However, as indicated in our AGM statement dated 5 February 2019, the market environment has been challenging throughout the first half and, as a result, Numis is expected to deliver revenue approximately 26% lower than the first half of the prior year.  

 

Although UK Equity capital market volumes have declined materially during the period, Numis has achieved strong market share gains underpinning its Corporate Broking & Advisory revenues which are expected to be in line with the second half of the prior year. Encouragingly, average deal fees have increased compared to the previous six months offsetting the impact of lower deal volumes.  Equities revenues are lower than the comparative period reflecting depressed activity levels and the prevailing investor sentiment toward the UK.

 

Numis continues to focus on the execution of its strategy and delivering market share gains in all market environments.  Our pipeline has grown in recent weeks with a notable increase in M&A opportunities.  Notwithstanding the improvement in trading in recent weeks, execution of our pipeline will likely be influenced by the evolving political outlook and the associated impact on our corporate and institutional clients.

 

The announcement of Numis' half year results for the six months ending 31 March 2019 will be made on 3 May 2019.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

29 March 2019

 

END

 

 

Contacts

Numis

Alex Ham and Ross Mitchinson, Co-CEOs                                            020 7260 1245

Andrew Holloway, CFO                                                                          020 7260 1266

 

Brunswick (Public Relations Adviser):

Nick Cosgrove                                                                                        020 7404 5959

Simone Selzer                                                                                        020 7404 5959

 

Grant Thornton UK LLP (Nominated Adviser):        

Philip Secrett                                                                                          020 7728 2578
            Jen Clarke                                                                                              020 7865 2411
            Harrison J Clarke                                                                                   020 7184 4384


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 [email protected] or visit www.rns.com.
 
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