Numis sees rebound in M&A activity 

Numis sees rebound in M&A activity 

Numis has started to see a bounce back in merger and acquisition activity, after the group’s revenues once again hit record levels.

The corporate advice firm saw its revenues grow by 15 per cent last year, climbing to £112m from the £98m posted back in 2015.

This marks a continued upward trajectory for the Aim-listed broker, with its revenues hitting another record high.

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Numis was forced to plough through market turmoil last year, but non-executive chairman, Gerald Corbett, said the firm's financial performance was bolstered by the strength of its relationship with clients. 

He also said market conditions have been “broadly positive” since the start of 2017, adding: “The gradual rise in UK equity markets has been helpful to our equity revenues, which are currently running above their 2016 run rate.”  

Mr Corbett said he was starting to see a pick-up in merger and acquisition activity, with Numis completing 19 equity finance transactions and 15 advisory mandates so far this financial year.

Despite uncertainties around a ‘hard’ Brexit, and the implications of the new Trump administration, the non-executive chairman said he was encouraged by market sentiment.

He also pointed out that Numis has a number of deals in the pipeline for the coming year, which includes both fund raising and merger and acquisitons. 

The rise in revenue also means the group is now able to recommend a 4 per cent bump in its final dividend for last year, hitting 12p.

Last year, Oliver Hemsley stepped down as chief executive, to be replaced by both Alex Ham and Ross Mitchinson.

Mr Corbett said this transition had been planned for “some time”, but said he was pleased that the executive team remains focused on the future success of the business.