Numis Corporation PLC Trading Update (0967B)
March 31 2017 - 2:01AM
UK Regulatory
TIDMNUM
RNS Number : 0967B
Numis Corporation PLC
31 March 2017
EMBARGOED FOR RELEASE
31(st) March 2017 at 7.00 am
Numis Corporation Plc
Trading Update
Friday 31(st) March 2017 at 7.00am: Numis Corporation Plc
("Numis") is today issuing a trading update in respect of the six
months ending 31(st) March 2017.
The steady rise in UK equity markets has been helpful to our
Equities revenues, comprising institutional commissions and
trading, which continue to outperform historic levels.
Conversely, we have seen a paucity of primary equity issuance in
the UK market as a whole and the increase in M&A activity has
yet to fully benefit our top line. Whilst we are not immune to such
conditions, the corporate side of our business has experienced
higher transaction volumes in non-primary activity than the same
period last year, reflecting the quality of our client base.
Net income from our strategic investments has outperformed the
first half of 2016 and we continue to explore opportunities for
re-cycling the portfolio where we see attractive investment
propositions, which are strategically relevant.
As a result, total income will be moderately below the first
half of last year.
We have a number of corporate transactions which are due to
complete in April 2017 and based on the strength of our pipeline,
we remain confident in the outturn for the full year.
The announcement of Numis' half year results for the six months
ending 31(st) March 2017 will be made on Monday 8(th) May 2017.
ENDS
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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