Numis Corporation - Market share gains but no H2 pick-up
Numis’s year-end update confirmed that the low levels of corporate activity seen in the first half persisted through the rest of the year. In these circumstances, matching first half revenues can be seen as a reasonable outcome for H219. FY19 revenue and profit are therefore set to be significantly lower y-o-y, but the franchise remains strong, with positive indicators including increases in corporate client numbers, private market revenues and market share within Equities. The potential for a substantial bounce back in earnings once conditions improve remains in place. In the meantime, reassurance is provided by the strong balance sheet position and continued commitment to developing the franchise.Numis Corp. is a holding company. Co. is an independent institutional stockbroker and corporate advisor. Co. is a provider of access to capital for U.K. listed companies. Co. provides a range of research, execution, corporate broking and advisory services to companies of all sizes quoted in the U.K. and their investors. Co. serves a range of corporate clients across 16 sectors.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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