An increase in the size of fundings and new issues among London’s listed small caps has put some zip back into stockbroker Numis PLC ( LON:NUM).
Trading activity has been strong since March, helped by rising equity markets while the larger broking and advisory transactions have helped fees.
READ: Numis reports 38% decline in half year profit and announces departure of founder
“Whilst there are still two months of our financial year to go, it is likely that our full year revenue and profit will be comfortably ahead of prior year,” said the firm's statement.
Separately, the broker announced a re-shuffling of boardroom responsibilities with Andrew Holloway to take over from Simon Denyer as chief financial officer, while Lorna Tilbian is leaving and Marcus Chorley is stepping down from the PLC board.
Shares rose 8% to 266p.