Top-three broker Numis Corporation triples annual profits

3rd Dec 2013 10:01

Reflecting the renaissance of London IPOs and fundraising scene, AIM-listed broker and investment bank Numis more than tripled annual profits the day after it was inaugurated in the top three of London's mid-cap brokers. The broker yesterday was confirmed as having the third most FTSE 250 clients among London stockbrokers, with 31 counted by the Adviser Rankings service, as well as one FTSE 100 company Hargreaves Lansdown and 119 FTSE Smallcap and AIM company clients. This growing client base and the resurgence of the London fundraising market helped revenues swell 55% to £77.7m and profits soar 227% to £25m in the year to September 30th. Earnings tripled from 6.4p to 19.3 per share and the total dividend was lifted by a penny to 9p.Chief Executive and founder Oliver Hemsley said: "During the downturn we have kept a relentless focus on building and maintaining the quality of service to our corporate and institutional clients." He pointed out that Numis, whose name is derived from the Latin for 'coin', raised over £2bn for corporate clients and had seen sentiment continuing to improve since the year end and with it the pipeline of new business.Shares in Numis were up 7.17% to 310.25p at 10:13 on Tuesday.OH