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Investment bank and equities broker Numis said it experienced a slower start to its second quarter amid concerns about rising inflation and interest rates.
Numis said revenue for the first quarter ended 31 December was in line with the strong second-half performance in the 2021 financial year.
'However, mounting inflation and interest rate concerns have impacted broader equity markets in recent weeks, with a reduction in investor risk appetite and capital markets activity,' Numis said.
'As such, we have had a slower start to our second quarter, albeit our pipeline and outlook for the second half across both M&A and capital markets is encouraging, and gives us confidence in the outcome for the full year.'