Numis Corporation PLC (AIM:NUM) said revenue in the past quarter was ahead of the one before, as a "favourable" environment for mergers & acquisitions (M&A) has "driven performance in investment banking".
Looking forward, market conditions for equity markets and capital raising are expected to "remain challenging throughout the final quarter", the mid-market investment banks said.
Revenue in what was its third quarter topped £40mln, which "reflects a strong improvement" on the second.
The M&A pipeline of both announced and possible transactions "remains strong", Numis said, meaning that overall it expected to perform in line with market expectations for the full year.
"Equities revenues were marginally below the first half run-rate reflecting the cautious investor sentiment and market declines in the period, particularly across UK small and mid-caps."
Despite this, the company's trading performance was "marginally better" than the first-half run rate, helping to offset a quieter period for commissions.
A new Dublin office is expected to begin trading in the fourth quarter after regulatory approval from the Central Bank of Ireland was received.