Key themes from Numis’s FY18 results were the continued growth in the corporate client base, significant investment in staff and other costs to support growth, and maintenance of its institutional client base following MiFID II implementation. Cost growth meant that while revenue reached a new record, profits were lower. Recent market trends suggest profits could be lower again this year and we have reduced our estimate accordingly. Looking beyond this, the investment in strengthening t
14 Jan 2019
Numis Corporation - Keeping its eye on longer-term growth
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Numis Corporation - Keeping its eye on longer-term growth
- Published:
14 Jan 2019 -
Author:
Andrew Mitchell -
Pages:
13
Key themes from Numis’s FY18 results were the continued growth in the corporate client base, significant investment in staff and other costs to support growth, and maintenance of its institutional client base following MiFID II implementation. Cost growth meant that while revenue reached a new record, profits were lower. Recent market trends suggest profits could be lower again this year and we have reduced our estimate accordingly. Looking beyond this, the investment in strengthening t