Stockbroker Numis set to soar

12 April 2012

NUMIS, the institutional broker formerly known as Raphael Zorn Hemsley, said today that its first-half results would be significantly ahead of those of 2001, when it made £1.7m profit.

Shares in stockbroker rose 12 1/2p to 282 1/2p. They have soared from 107 1/2p in less than a year.

Numis said two of its insurance clients had raised £180m in new capital and it had an adequate pipeline of corporate transactions.

Commissions from the secondary market and trading profits were 'satisfactory in difficult market conditions'. Selling 260,000 London Stock Exchange shares made an exceptional profit of more than £1m.

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