Numis sees profits rise as M&A business booms

Doing more deals for its clients even in a mixed period for stock markets helped broker and investment bank Numis push headline profits up by 7% to £32.7 million last year.

Although the amount Numis raised through transactions ranging from the £2.4 billion float of Autotrader to the £100 million rights issue at Mothercare — fronted by Jools Oliver — remained static at £2.1 billion, the profitability of deals improved.

Founder and chief executive Oliver Hemsley said: “We are becoming better recognised for M&A work than we were in the past and we are also seeing ourselves being appointed as joint brokers to more companies alongside one of the bulge-bracket banks.”

Numis’s client list bumped up from 171 to 183 over the year.

The firm has got off to a rattling start since its September year end with another 12 capital raisings.

Shareholders enjoy a 10% rise in the dividend to 11.5p a share.