Peel Hunt Ltd (AIM:PEEL) said it outperformed revised analyst expectations despite a slowdown in activity after Russia's invasion of Ukraine.
The stockbroker, which issued a profit warning in February, told investors that its deal execution and trading unit grew strongly at the end of the year whilst investment banking revenues rose despite rising inflation and interest rates.
The investment bank said it expects full-year revenue to be around £131mln.
This comes after February's warning that revenue for the year was expected to be 'marginally below' guidance and earnings would be 'commensurately lower'.
In broking, the firm noted 19 new corporate clients were added during the financial year, meanwhile, it said that the pipeline of investment banking deals remains strong, despite "heightened execution and timing risk in the current environment."
According to the broker, research and distribution businesses both performed on par with expectations, while execution and trading volumes and activity remained substantially higher than pre-pandemic rates.