* FY profit before tax 22.6 million pounds vs 4.1 mln
* FY revenue rises 55 percent to 77.7 million
* Shares up 0.8 percent at 1109 GMT
LONDON, Dec 3 British investment bank and
stockbroker Numis Corp said on Tuesday its full-year
profit increased more than fivefold as UK-listed companies and
institutional investors regained confidence in equity markets.
A record level of activity in the year to Sept. 30 drove
pretax profit to 22.6 million pounds ($37 million) from 4.1
million pounds a year earlier, Numis said.
Revenue rose 55 percent to 77.7 million pounds, with income
from trading and corporate and issuance transactions both seeing
"Inflows are increasing and people are much more comfortable
with equities than they were in the past," Chief Executive
Oliver Hemsley said, adding that the company's new financial
year had already seen buoyant activity in primary and secondary
"The deal pipeline is building strongly and we are
optimistic that favourable conditions for equity issuance will
prevail in the short to medium term," he said.
The firm recruited 28 new corporate clients in the year to
the end of September and won business in seven initial public
offerings (IPOs), including those of cabling equipment maker
HellermannTyton, insurer esure and house
builder Crest Nicholson.
Most recently Numis worked as joint bookrunner for the
listing of estate agent Foxtons, a step up from its
role on previous floatations.
Hemsley said that this, in addition to its recent third
place in a ranking of stockbrokers by number of FTSE 250
clients, was a "huge move forward" and a sign that independent
players can take on multinational investment banks in Britain.
"There has been a change during the downturn... There is an
opportunity for an independent firm to be a champion of
UK-listed companies," he said.
The Numis board proposed a final dividend of 5 pence, making
a total dividend of 9 pence per share for the year. The company
paid out 8 pence per share in 2012.
Numis shares, which have more than doubled since the start
of the year, were up 0.9 percent at 292 pence at 1109 GMT.