Deal maker Numis on the front foot after M&A numbers surge

Front foot: Numis expects first half sales to be higher than last year

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Michael Bow29 March 2018

Square Mile dealmaker Numis chalked up higher half-year profits on Thursday after reaping the benefits of ballooning banker fees.

The City broker, which worked on the Trinity Mirror takeover of the Daily Express, and the sale of cocktail bar Revolution, said sales would be “significantly ahead” of £53 million recorded last year.

“Transaction volumes across our capital markets and M&A activities have been strong throughout the period and in combination with higher average deal fees,” the company said.

Sales have failed to keep pace with the second half of last year, which set a record for the group.

Co-chief executive Alex Ham, who runs the M&A side, and Ross Mitchinson, who runs equities, replaced company founder Oliver Hemsley in 2016.

Since September, the company has worked on big deals like the Mirror-Express takeover, the £600 million float of car insurer Sabre and the Aveva tie-up with Schneider’s electrical business.

Numis is also lined up to work on AJ Bell’s £500 million float and Funding Circle’s £1.5 billion float later in the year.

Shares rose 1.5%, gaining 5.5p to 365p.