City of London’s Deal Boom to Boost Profits at Boutique Numis

(Bloomberg) --

Numis Corp. expects to report profits significantly higher than last year as the boutique investment bank benefited from a slew of M&A transactions in the last quarter.

The London-based firm said full-year revenue for the financial year ending Sept. 30 will be in the region of 215 million pounds ($289 million), up from 155 million pounds last year. 

“Whilst there was an anticipated pause in IPO activity and more subdued markets in general over the summer period, this was offset by the completion of a number of significant M&A transactions,” the broker said in a trading update Thursday.

Investment banking revenues will be more than 150 million pounds for the year. Equities delivered a strong second half performance, although lower than in the first half, Numis said. 

The broker was also bullish on the outlook for the U.K.’s capital markets. “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 U.K. M&A is likely to remain at elevated levels as we emerge from the pandemic,” Numis said.

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