Numis profit leaps

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CorporateBusiness

London - British investment bank and stockbroker Numis Corp said on Tuesday its full-year pretax profit rose more than 400 percent as improved market conditions boosted stock market trading and companies raised more money on equity markets.

The company said pretax profit was 22.6 million pounds ($37 million) in the year to September 30, compared with 4.1 million pounds a year earlier.

Revenue was 77.7 million pounds, up 55 percent from 50.1 million pounds in 2012.

The firm added 28 new corporate clients during the year and won business in seven initial public offerings (IPOs), including those of cabling equipment maker HellermannTyton, insurer esure and estate agent Foxtons.

“As market sentiment improved during 2013 and confidence returned to both our corporate and buy side clients, we have facilitated much improved access to the capital markets and raised over 2 billion pounds for our corporate clients,” chief executive Oliver Hemsley said.

Numis proposed a final dividend of 5.00 pence, making a total dividend of 9.00 pence per share for the year.

The company paid out 8.00 pence per share in 2012.

Numis shares, which have more than doubled in value since the beginning of the year, closed at 284.5 pence on Monday. - Reuters


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