Roaring IPO markets a boon to Numis as it eyes bullish results

Michael Bow
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NUMIS Corporation, which owns City broker Numis Securities, yesterday said it expected to surpass last year’s interim profits after a bumper start to the year.

Numis, which has been the midwife to such high profile floats as Crest Nicholson and Esure in recent months, said revenues and profits would be “substantially above” what it made last year.

The company, which is listed on the junior stock market, last year posted an adjusted pre-tax profit of £2.6m, which was down from £4.1m in 2011, according to results for the six months ending 31 March 2012. It releases its interim 2013 numbers at the start of May but yesterday said growing its corporate list and hiring talent in the downturn was paying off.

“This strategy is beginning to bear fruit and we have seen a marked improvement in both secondary and primary income,” it said in a statement.

Last month Numis said an increase in institutional commissions and improved trading results had boosted revenues for January and February, pointing to strong interim numbers.