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.

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