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Numis revenue jumps 50% as markets buoyed by vaccine news
StockMarketWire.com
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Advisory and broking group Numis said its revenue had jumped around 50% in the first fourth months of its financial year, buoyed partly by news on Covid-19 vaccines and a post-Brexit trade deal.
The robust performance for the four months through January had continued a strong showing posted in the second half of the 2020 financial year, Numis said.
Investment banking revenues had continued to be strong despite the absence of Covid-related fundraising activity in the period.
Average deal fees had increased due to a number of high-value capital markets transactions in the technology and digital consumer sectors.
'Vaccine related news flow and a Brexit deal have contributed to a favourable environment for the equities business, which has delivered both consistently strong trading profits and institutional income ahead of the comparative period,' Numis said.
'We are well positioned to benefit from current market conditions, as demonstrated by the high volume of IPOs we have completed in recent weeks.'
'The deal pipeline for the remaining two months of the first half is encouraging and we are focused on sustaining the positive momentum across the business.'
Story provided by StockMarketWire.com
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