Numis : Trading Update – for the half year ending 31 March 2017

The steady rise in UK equity markets has been helpful to our Equities revenues, comprising institutional commissions and trading, which continue to outperform historic levels.

Conversely, we have seen a paucity of primary equity issuance in the UK market as a whole and the increase in M&A activity has yet to fully benefit our top line. Whilst we are not immune to such conditions, the corporate side of our business has experienced higher transaction volumes in non-primary activity than the same period last year, reflecting the quality of our client base.

Net income from our strategic investments has outperformed the first half of 2016 and we continue to explore opportunities for re-cycling the portfolio where we see attractive investment propositions, which are strategically relevant.

As a result, total income will be moderately below the first half of last year.

We have a number of corporate transactions which are due to complete in April 2017 and based on the strength of our pipeline, we remain confident in the outturn for the full year.

The announcement of Numis' half year results for the six months ending 31st March 2017 will be made on Monday 8th May 2017.

ENDS

Numis is a leading corporate advisory and stockbroking group offering a full range of research, execution, corporate broking and corporate finance services to companies quoted in the UK and their investors.