March 29, 2019 / 7:46 AM / 4 months ago

UK stockbroker Numis says first-half revenue to fall by a quarter

(Reuters) - Stockbroker and corporate advisor Numis Corporation Plc forecast a 26 percent fall in first-half revenue on Friday, blaming a “challenging” first half environment for UK equity capital market deals.

A well-known name in the City of London and listed on the junior AIM exchange, Numis pointed to the uncertainty over Britain’s chaotic efforts to leave the European Union as a continuing issue for its business.

“Equities revenues are lower than the comparative period reflecting depressed activity levels and the prevailing investor sentiment towards the UK,” the company said.

However, it said it had benefited from several investment banking deals in recent weeks, including capital markets transactions for Just Group and Randall & Quilter and the merger of Primary Health Properties and MedicX.

“Our pipeline has grown in recent weeks with a notable increase in M&A opportunities,” the company added.

“Execution of our pipeline will likely be influenced by the evolving political outlook and the associated impact on our corporate and institutional clients.”

The company will announce half year results for the six months ending March 31 on May 3.

Reporting by Samantha Machado and Shashwat Awasti in Bengaluru; Editing by Arun Koyyur

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