CITY broker Numis is flying, thanks to its expertise in techand its ability to raise cash for clients looking to expand.
Today it said revenue for the first half of the year wouldbe around £110 million, a jump of 75% on a year ago. A surge in IPOs (initial public offerings) and other deals has boosted the broker.
Last week rival Cenkos had similar good news.
The broker said: “The positive equity market backdrop has supported an increase in IPO and M&A activity which has more than offset the tapering of fundraising activity for corporate clients. Our strong track record inequity capital markets and credibility in the digital economy has enabled us to capture a significant share of IPO transactions over this period which has contributed to strong growth in both average deal fees and deal volumes.”
Numis is based at Paternoster Square in the City.
It reported record results back in December, which enabled itto record average pay of £250,000. Staff costs jumped 42% to £76 million. Profits soared 198% to £37 million.
The figures at Numis are likely to be indicative of a wider pay and profit boom at the bigger investment banks, something that may not sit well with politicians and the public.
