M&A helps boost Numis Q3 revenues

Investment bank Numis reported a rise in third-quarter revenue driven by a strong mergers and acquisitions environment.

Revenue for the three months to June 30 was more than £40m, a “strong improvement” on the second quarter, the company said on Wednesday, adding that full-year expectations remain unchanged.

“A favourable M&A environment has driven performance in investment banking and into H2, the M&A pipeline of both announced and possible transactions remains strong. Equities and equity capital markets continue to be affected by macro-themes.”

“Capital markets volumes remain subdued and whilst we have seen some recovery in activity during the third quarter, we expect macro-economic concerns to restrict deal volumes in the short term.”

Reporting by Frank Prenesti at Sharecast.com