Numis Says Q3 Trading Strong, FY22 Outlook In-line With Market View; Stock Up

Investment bank Numis Corp. Plc (NUM.L) reported Wednesday that its third-quarter revenue was in excess of 40 million pounds. Looking ahead, the outlook for fiscal 2022 remains in-line with market expectations. Numis shares were gaining around 2 percent in the early morning trading in London.

In its trading update, the company said its third-quarter revenue was ahead of the first half run-rate and reflects a strong improvement on the second-half revenue performance.

The company said a favorable M&A environment has driven performance in investment banking.

Capital markets volumes remain subdued, and the company expects macro-economic concerns to restrict deal volumes in the short term.

Equities revenues were marginally below the first half run-rate reflecting the cautious investor sentiment and market declines in the period, particularly across UK small and mid-caps.

Regarding the outlook, the company noted that market conditions for equity markets and capital raising will likely remain challenging throughout the final quarter. However, the M&A pipeline of both announced and possible transactions remains strong.

In London, Numis shares were trading at 255 pence, up 2 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ride-hailing company Lyft announced its foray into the media and advertisement business with the launch of Lyft Media as part of its vision to build the world's largest transportation media network. Lyft Media has built a suite of new products to allow advertisers to engage with Lyft's growing audience throughout their transportation journeys. Sysco Corp. (SYY) Tuesday reported a more than a three-times surge in fourth-quarter earnings, supported by 17.5 percent growth in sales. The company projects fiscal 2023 adjusted earnings to grow. Earnings for the quarter spiked to $509.99 million from $151.09 million last year. On a per share basis,... Longmont Colorado -based Royal Crest Dairy is recalling 2% Chocolate Milk citing the potential to be contaminated with undeclared egg, a known allergen, the U.S. Food and Drug Administration said. The recall involves Farmer's 2% Reduced Fat Chocolate Milk Pints with the code date of AUG-22.
Follow RTT