Numis Swings Into First-Half Profit of 8 Million PoundsAmbereen Choudhury
Numis Corp., a broker for companies in the U.K., swung into profit in the fiscal first half on record institutional commission and trading revenue.
The company had net income of 7.97 million pounds ($12 million) in the six months to March 31 compared with a loss of 624,000 pounds in the year-earlier period, London-based Numis said in a statement today. Revenue rose to 32.4 million pounds from 23.3 million pounds a year ago.
“We have seen a marked improvement in both secondary and primary income during the first half of our 2013 financial year,” Chief Executive Officer Oliver Hemsley said in the statement. “Our second half has started well.”
Numis said it benefited from “strong inflows” of funds into equities during the fiscal first half, with the FTSE SmallCap index gaining 18.4 percent and the FTSE 250 advancing 19 percent. Companies also raised more than twice the amount in share sales compared with last year, reflecting a “resurgence of interest for good-quality initial public offering prospects,” Numis said.
Numis said it will pay an interim dividend of 4 pence a share, unchanged from the first half of 2012.