Stockbroker Numis expects FY revenues to beat 150 million pounds

(Reuters) - UK stockbroker and corporate adviser Numis Corp said on Monday it expects its full year profit to be “materially higher” than last year as it benefits from a rise in capital raising volumes and deal fees.

The broker said it expects revenues for the full year to be in excess of 150 million pounds ($191.55 million), compared to 111.6 million pounds in the previous year, when it posted a 61% slump in its annual profit.

The company, listed on London’s junior market and with offices in New York, said the volumes of capital raising and equity trading outweighed subdued levels of M&A activity and initial public offerings.

Reporting by Clara Denina; Editing by Rachel Armstrong