The drag on revenues from scarce market-wide primary equity issuance was substantially mitigated by progress in most other areas, reflecting the breadth and strength of the franchise that has been built. Numis is positive on H2 revenues and expects a pick-up in IPO activity. Less positively, cost pressure is greater than we had expected and prospectively from the implementation of MiFID II. Strategically, Numis looks well placed to navigate industry change, has successfully completed a major
22 May 2017
Franchise strength and development
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Franchise strength and development
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22 May 2017 - Author:
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The drag on revenues from scarce market-wide primary equity issuance was substantially mitigated by progress in most other areas, reflecting the breadth and strength of the franchise that has been built. Numis is positive on H2 revenues and expects a pick-up in IPO activity. Less positively, cost pressure is greater than we had expected and prospectively from the implementation of MiFID II. Strategically, Numis looks well placed to navigate industry change, has successfully completed a major