Numis maintains recent 'positive momentum' in Q4

Numis stated that whilst there was an anticipated pause in IPO activity and more subdued markets in general over the summer period, this had been offset by the completion of a number of "significant M&A transactions".

Revenue for the second half was expected to be in the region of £215.0m, up from £154.9m a year earlier, while the benefit of operational gearing was expected to push profits "significantly higher" than 2020's pre-tax profit figure of £37.1m.

The AIM-listed group pointed out that investment banking revenues were much improved at more than £150.0m, up from £101.7m, and equities also delivered "a strong second-half performance", albeit lower than the "exceptional" showing reported in the first half.

"Our pipeline remains very strong, and the wider market outlook for Numis is positive. We expect to launch a number of IPOs in the coming weeks, the capital raising environment is active across both public and private markets, and UK M&A is likely to remain at elevated levels as we emerge from the pandemic," said Numis.

"Our strategy to build a more diversified, yet agile, investment banking business has contributed to an excellent year for Numis."

As of 0825 BST, Numis shares were up 1.50% at 371.48p.