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Peel Hunt announces jump in 1H revenues
(Sharecast News) - Peel Hunt announced a jump in first half revenues and sounded an upbeat note on the outlook. The UK investment bank also said that its investment banking pipeline remained "healthy" and that activity in Equity Capital Markets - IPOs included - was starting to emerge.
"Despite the ongoing economic and geopolitical uncertainty, we remain optimistic about our performance for the remainder of the year," the firm said.
Revenues for the half were expected to be ahead by 37% to approximately £73.8m.
The investment bank also highlighted how it had grown its FTSE 350 client base by 78% since its 2021 IPO to 57 companies - including 5 FTSE 100 names - while expanding distribution capabilities, particularly overseas.
And during the half its efforts to diversify beyond Equity Capital Markets had borne fruit, with Peel Hunt having acted as lead financial advisor on 11 M&A operations with an attached deal value of £8.4bn.
That put it third in the UK M&A league tables, only behind global investment banks.
Execution Services achieved its best six-month performance since COVID - despite heightened competition.
Peel Hunt also said that it now had a leaner and better aligned cost base.
As of 0839 BST, shares of Peel Hunt were dipping by 0.93% to 107.0p.
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