Numis Corporation (NUM)

Sector:

Financials

Index:

FTSE AIM 50

287.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 306.00
  • 52 Week Low: 212.00
  • Currency: UK Pounds
  • Shares Issued: 106.84m
  • Volume: 43,348
  • Market Cap: £306.62m

Numis blames political uncertainty for dive in profits

By Duncan Ferris

Date: Friday 03 May 2019

LONDON (ShareCast) - (Sharecast News) - Numis Corporation on Friday reported a plunge in interim profits and revenues as domestic political uncertainty precipitated a period of weak UK investor sentiment.


The broker\'s profit before tax for the six month period ending 31 March came in at £7.1m, down 64% compared to the same period the year before, after revenue dived 25% lower to £55.7m.

Investment banking revenue dropped by 24% to £38.8m as deal volumes were down compared to both six-month periods of the prior year, while equities revenues fell by 28% to £16.9m, with the broker stating that the prevailing uncertainty reduced trading activity amongst its predominantly long-only institutional client base.

The AIM traded company maintained its 5.5p per share interim dividend and had cash and cash equivalents of £78.9m at the end of the period, down from £82.5m at the same point the year before.

Alex Ham and Ross Mitchinson, co-chief executive\'s at Numis, said: \"We operate in a cyclical industry and our financial performance will always be influenced to a certain extent by market conditions. Our first half performance has been impacted by a significant slowdown in UK deal activity and investors maintaining a cautious approach toward the UK market.\"

The chief executives added that they remained encouraged by the business\' continued progress and believed its investments in recent years provided a strong platform from which they can continue to successfully execute their strategy.

In a statement, Numis said the business is holding out for greater clarity regarding the UK political outlook, at which point an improvement in corporate and institutional client activity is expected, though the broker conceded that predicting the timing of such an improvement remained \"difficult\".

\"We believe the current market environment, whilst uncertain in the short term, presents further opportunities for the business to advance its strategic ambitions within an evolving competitive landscape,\" said Ham and Mitchinson.

Numis Corporation\'s shares were up 0.05% at 265.62p at 1159 BST.

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NUM Market Data

Currency UK Pounds
Share Price 287.00p
Change Today 2.00p
% Change 0.70 %
52 Week High 306.00
52 Week Low 212.00
Volume 43,348
Shares Issued 106.84m
Market Cap £306.62m

NUM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
32.63% above the market average32.63% above the market average32.63% above the market average32.63% above the market average32.63% above the market average
10.45% below the sector average10.45% below the sector average10.45% below the sector average10.45% below the sector average10.45% below the sector average
Price Trend
24.89% above the market average24.89% above the market average24.89% above the market average24.89% above the market average24.89% above the market average
31.51% above the sector average31.51% above the sector average31.51% above the sector average31.51% above the sector average31.51% above the sector average
Income
3.83% above the market average3.83% above the market average3.83% above the market average3.83% above the market average3.83% above the market average
13.58% below the sector average13.58% below the sector average13.58% below the sector average13.58% below the sector average13.58% below the sector average
Growth
99.12% below the market average99.12% below the market average99.12% below the market average99.12% below the market average99.12% below the market average
98.35% below the sector average98.35% below the sector average98.35% below the sector average98.35% below the sector average98.35% below the sector average

NUM Dividends

  Latest Previous
  Final Interim
Ex-Div 12-Dec-19 16-May-19
Paid 07-Feb-20 21-Jun-19
Amount 6.50p 5.50p

Trades for 17-Jan-2020

Time Volume / Share Price
16:35 288 @ 287.00p
16:29 2,305 @ 285.00p
16:29 71 @ 289.00p
16:29 116 @ 285.50p
16:29 266 @ 285.50p

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