Numis Surges to Highest Since 2007 as Trading Commissions Climb
Numis Corp. (NUM) surged the most in almost six months in London trading after the stockbroker said its fiscal full-year profit more than tripled and posted record trading commissions.
Adjusted pretax profit climbed to 25 million pounds ($41 million) in the fiscal year ended Sept. 30 from 7.7 million pounds in the year-earlier period, the London-based company said in a statement today. Gains from institutional commissions and trading increased 50 percent to 37.2 million pounds.
The stock climbed 7.1 percent at 9:06 a.m. in London and earlier rose 9.2 percent to 316 pence, the highest intraday level since July 2007. The shares have risen about 160 percent this year as equity markets rallied on central bank pledges to support growth.
“Our new financial year has started well, with buoyant levels of activity in both primary and secondary markets,” Chief Executive Officer Oliver Hemsley said in the statement. “The deal pipeline is building strongly and we are optimistic that favourable conditions for equity issuance will prevail in the short to medium term.”
The company declared a final dividend of 5 pence per share, taking its total shareholder payout for the year to 9 pence apiece, up from 8 pence in 2012. Its corporate client list grew by 28 firms in 2013, reaching 156, according to the statement.
To contact the editor responsible for this story: Edward Evans at firstname.lastname@example.org