Corporate advice firm Numis saw its revenue from its core business reach record levels in the space of a year, despite admitting activity was impacted by the outcome of the EU referendum.
In the year ending 30 September, the Aim-listed firm saw its revenue grow by 14 per cent, pushing it to £100m “comfortably” for the first time in the group’s history, according to a statement on the London Stock Exchange.
The group took on 26 advice mandates throughout the year, and managed to complete a further 19 equity raises, including three initial public offerings , even though the UK equity market was affected by the Brexit vote.
For the year, the group acted on 46 equity deals, raising around £1.9bn.
In a trading update, the group said combined revenues from equity issuance and advisory activities grew by 15 per cent, surpassing the record levels achieved during the previous year.
It pointed to the merger and acquisition activity among its clients, and said the number of corporate clients it works with continues to grow, with net additions of 15 during the year, bringing the total to 198.
"Our equity sales, research and execution activities also performed well during the year, increasing combined institutional commission and trading revenues by 13 per cent year-on-year.
"We continue to invest in our people in order to ensure that the provision of high quality advice, research and execution continues to define our approach to offering the best possible service to our corporate and institutional clients."
