We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Numis Corporation Plc | LSE:NUM | London | Ordinary Share | GB00B05M6465 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 343.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNUM
RNS Number : 0275P
Numis Corporation PLC
05 February 2019
NUMIS CORPORATION PLC ("Numis")
Embargoed for release 7.00 am, 5 February 2019
AGM Trading Update
Numis today provides the following trading update in relation to the first four months of the financial year. This statement is issued in advance of the Company's Annual General Meeting which is being held at 2.00 pm today.
Since the start of the financial year, UK equity indices have suffered material declines and the domestic political situation has significantly impacted investor sentiment in the UK. As a result the market backdrop has been particularly challenging for our corporate and institutional clients, which has ultimately impacted our trading performance in the first four months of the year.
Corporate Broking & Advisory is performing in line with the second half of the previous financial year but below the comparative period. Average deal fees remain in line with the prior year, however, transaction volumes are significantly lower across the market and, as a consequence, we have completed approximately 25% fewer deals compared to the first four months of the prior year. Equities has been similarly impacted, Institutional income is approximately 25% lower than the comparative period reflecting depressed market activity levels, and our trading book is marginally loss making for the period.
We are now entering the second year under MiFID II and, based on the current discussions with institutional clients, we do not anticipate a material change in the overall value of payments for our research and sales offering in 2019. This is encouraging given that we were not materially impacted by the first year of implementation, despite the decrease in institutional budgets since the introduction of the regulation.
Whilst our financial results will be influenced by market conditions, we are committed to the execution of our strategy. During challenging market conditions, access to high quality and insightful advice becomes increasingly important to all our clients. The investment in the business last year significantly enhances our capabilities in this regard, and supports our strategic ambition to deliver market share gains in our core products, and make further progress in adjacent product areas.
We continue to win high quality corporate clients who recognise the strength of our integrated model and quality of our people. We have a good pipeline of opportunities, and would expect to see a meaningful increase in revenue, as and when there is greater clarity regarding the UK macro-economic and political landscape.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
5 February 2019
END
Contacts
Numis
Alex Ham and Ross Mitchinson, Co-CEOs 020 7260 1245
Andrew Holloway, CFO 020 7260 1266
Brunswick (Public Relations Adviser):
Nick Cosgrove 020 7404 5959
Simone Selzer 020 7404 5959
Grant Thornton UK LLP (Nominated Adviser):
Philip Secrett 020 7728 2578
Jen Clarke 020 7865 2411
Harrison J Clarke 020 7184 4384
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
NOAQZLFBKLFLBBX
(END) Dow Jones Newswires
February 05, 2019 02:01 ET (07:01 GMT)
1 Year Numis Chart |
1 Month Numis Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions