Investment banking group Numis Corp. Plc (NUM.L) Wednesday announced preliminary results for the full year 2009, reporting a loss as compared with a profit for the prior year. The loss reflects lower revenues, one-time loss on sale of Numis Caspian Ltd., and higher administrative costs. Numis Corp. shares are currently trading up more than 8% on the LSE.
For fiscal 2009, the London, UK-based company's loss before taxation was GBP 10.52 million as compared to a pre-tax profit of GBP 16.09 million in the previous year. On an adjusted basis, pre-tax profit plunged to GBP 4.20 million from GBP 8.41 million a year ago.
Adjusted results exclude investment losses of GBP 7.8 million as compared with a gain of GBP 7.4 million in the prior year, and share scheme related charges of GBP 6.9 million versus a credit of GBP 0.3 million in the last-year period.
Loss attributable to shareholders was GBP 8.65 million or 8.4 pence per share versus a profit of GBP 14.78 million or 14.6 pence per share in the 2008-year period. Adjusted profit for the period plummeted to GBP 3.33 million from GBP 5.66 million in the prior-year period.
Full year revenues slumped to GBP 47.53 million from GBP 50.71 million last year. After operating loss, total revenues for the year were GBP 39.69 million versus GBP 51.44 million a year ago.
Net institutional income for the year increased to GBP 25.19 million from GBP 23.68 million in the previous year, revenues from corporate retainers were GBP 4.58 million compared with GBP 4.03 million in the 2008-year period. Deal fees for the period dropped to GBP 5.42 million from GBP 9.75 million in the year-ago period, and revenues from placing commissions were GBP 12.34 million versus GBP 13.25 million last year.
During the twelve month period, administrative expenses rose to GBP 52.92 million from GBP 47.76 million, whereas finance costs were GBP 54 thousand compared to GBP 60 thousand a year earlier. In the year, the company had a one-time loss of GBP 138 thousand on the sale of its interest in Numis Caspian Limited LLP.
The board has proposed a final dividend of 5.50 pence per share, up 10% from 5.00 pence in 2008, making a total distribution of 8.00 pence per share versus 7.50 pence in the previous year. The dividend will be payable on February 19, 2010 to all shareholders on the register at December 11, 2009. Numis Corp. stated that shareholders will be offered the option to receive shares instead of a cash dividend.
NUM is currently trading on the London Stock Exchange at 175.10 pence per share up 13.10 pence or 8.09% on a volume of 220,300 shares. In the past 52-week period, the shares have been trading in a range of 99.00 pence to 180.67 pence.
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