STOCKBROKER Numis revealed a slide in profits over the six months to 31 March, but said it remained bullish for the year ahead.
Pre-tax profits fell to £4.1m from £9.4m a year earlier. Revenues fell to £26.5m from £31.3m.
However, profits and revenues were up on the figures Numis posted for the second-half of last year.
The stock market listing of Betfair was amongst a handful of high-profile deals handled by the broker in its first-half.
“It’s definitely a turnaround on where we were for the final half of last year,” chief executive Oliver Hemsley told City A.M.
“We’ve invested in attracting some really good quality clients and people and hopefully that will come through in our numbers in due course.”