Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Investment bank and broking house Numis said it expected to report a 'record' annual performance amid a rise in deal volumes.
Numis said it delivered a 'strong' performance in its third quarter through June, notching quarterly revenue in excess of £50 million.
'Whilst slightly lower than the first-half run rate, this represented an improved performance on the comparative quarter in the 2020 financial year, which featured much of the Covid-related deal activity.'
In the investment banking business, year-to-date deal volumes and average deal fees were materially ahead of the comparative period.
In the equities business, market volumes and activity levels declined slightly relative to a very strong second quarter.
'Whilst we expect deal volumes to reduce over the summer in line with the typical seasonal trend, the pipeline for the remainder of the year, and into next, remains very strong,' Numis said.
'During the quarter we have recruited additional investment banking talent, predominantly at the mid-ranking levels, and we will continue to add further headcount over the next few months to support our ambitions.'
'Following the very strong trading over the first nine months, we look forward to reporting a record performance for the full year.'