Peel Hunt Loss Widens as UK Firm Boosts IPO Work With Santander

Peel Hunt Ltd.’s annual loss widened as a protracted dearth of initial public offerings in London weighed on the UK investment bank’s earnings.

The firm reported a pretax loss of £3.5 million ($4.8 million) for the year through March, about 6% more than the previous 12 months, according to a statement on Monday. Revenue rose 6.4% to £91.3 million, driven by demand for Peel Hunt’s trade execution services.