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IN BRIEF: Peel Hunt upbeat as London market activity picks up

ALN

Peel Hunt Ltd - London-based investment bank and stockbroker - Revenue in the six months that ended on Tuesday is about £73.8 million, up 37% from £53.8 million a year before, as Peel Hunt grows its FTSE 350-listed client base to 57 companies from 32 at the time of its initial public offering in London in 2021. Peel Hunt also cites its investment in distribution capabilities and technology. At the same time, a reduction of fixed costs will be ‘reflected in the profitability of the group over this financial year’. Peel Hunt will release its full interim results on December 1.

Looking ahead, Peel Hunt says trading activity picked up in September following the quiet summer months. Its investment banking pipeline is ‘healthy’ with several announced transactions expected to complete in the second half of its financial year. While IPOs are picking up in London, the investment bank’s transactions will be weighted toward mergers and acquisitions, it says.

Current stock price: 106.50 pence, down 1.4% in London on Wednesday

12-month change: down 15%

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