16 Feb 2009 11:00
MONDAY 16 FEBRUARY 2009 11.00 AM
Numis Corporation Plc ("Numis")
Annual General Meeting ("AGM")
The Board of Numis announces today, 16 February 2009, at the Annual General Meeting that Michael Spencer, (Non-Executive Chairman) reported:
"The past year has been an extraordinarily challenging period for the Group. The reduction in capital markets activity, liquidity issues and volatility in equity prices has tested and continues to test our resilience. However, despite these unprecedented conditions, it is my pleasure to report that Numis remains financially robust and is building a high quality franchise for the future. Despite the financial turmoil, 2008 was a profitable year with total revenues of £51.4 million and profit before tax of £16.1 million. Basic earnings per share were 14.9p, while net assets at 30 September 2008 totaled £118.4 million.
Our talented and committed people deliver an exceptional quality of service to Numis' clients which has been recognised for the third year running in The Thompson Extel survey. We have also been active in raising capital for companies, particularly in the insurance sector where we have undertaken three separate underwritings totaling more than £360 million in the last three months.
We believe Numis has placed itself in a strong position to survive the current downturn. We have always been aware of the risks associated with over leverage and thus have run the company in a conservative manner which has served shareholders, employees and clients well. Our balance sheet continues to be robust with cash and cash collateral balances at 30 January 2009 of over £70 million.
Looking to the future, despite the economic downturn, London continues to be regarded as the leading international financial market. UK listed companies are seeking to bolster their balance sheets with equity and Numis is well placed to help companies access funds.
Since 30 September 2008, market conditions have remained extremely challenging. However, our market share in the mid-cap arena is showing impressive growth and Numis is busy working with institutional investors to recapitalise companies as corporate balance sheets undergo re-structuring. We remain confident that the Group will continue to weather the storms in capital markets and emerge as a formidable force in UK stockbroking over the next few years".
16 February 2009
END
Contacts
Numis Corporation:
Oliver Hemsley, Chief Executive 020 7260 1256Simon Denyer, Company Secretary 020 7260 1225
Brunswick:
Gill Ackers 020 7396 5382
Carole Cable 020 7396 7458
PricewaterhouseCoopers LLP (Nominated Adviser):
Simon Boadle 020 7583 5000
Jon Raggett