"Numis generated record revenues in a year when stock market performance was mixed, and market-wide corporate activity was muted" said co-CEOs Alex Ham and Ross Mitchinson.
"This demonstrates the robust nature of the business, and is testament to the quality of our people and the strong relationships that we enjoy with both our corporate and institutional clients.
"Numis has built an excellent franchise and we are excited to be leading the firm to the next level."
- Revenue growth of 15% to £112.3m, the highest level in the Group's history. Within this, we saw growth across the business, with Equities revenue up 15% to £38.4m and Corporate Broking and Advisory (CB&A) revenue up 14% to £73.9m.
- Profit before tax up 25% to £32.5m, which includes £3.7m of net gains on our strategic investment portfolio.
- Cash generation has been strong and we ended the year with cash balances of £89m (2015: £59.6m) and net assets of £129.1m (2015: £115.5m), both record highs for the Group.
- The proposed final dividend is increased by 8% to 6.5p, giving a full year dividend of 12p, an increase of 4%.
- The strong performance within Equities was driven by our continued focus on offering best-in-class research, sales and execution services. This was recognised in the Thomson Reuters Extel survey, in which we were ranked No 1 UK Small & Mid Cap Brokerage Firm for the 4th year in a row.
- The strong performance within CB&A reflects our dedication to working hard on behalf of our corporate clients. We raised £1.8bn of equity capital through 47 equity raisings including 13 IPO's. In addition, we completed 26 M&A transactions for our corporate clients, and executed £1.1bn of block trades. Our corporate client list continues to grow, with 16 net additions during the year taking the total number of clients for whom we act to 199.
- On 1 September 2016, founder Oliver Hemsley was succeeded by co-CEOs Alex Ham and Ross Mitchinson.
- Trading in our new financial year to date was solid and gives us confidence for the year.
Story provided by StockMarketWire.com