Peel Hunt, the renowned U.K. mid- and small-cap specialist investment bank, projects a modest increase in revenue for the first half of the fiscal year compared to the same period last year.
According to the company, revenue for the six months ended on September 30 is expected to be approximately £42.4 million ($51.7 million), signifying a 3.2% year-on-year growth. This figure is in line with market expectations.
Although deal activity remained subdued overall, Peel Hunt's investment banking division showcased a significant improvement in revenue compared to the previous year. In its execution services branch, the company displayed resilience despite lower market volumes, with revenue surpassing prepandemic levels in fixed income, investment companies, and ETFs.
Throughout the half-year period, costs have risen in tandem with inflation.
Peel Hunt remains optimistic as it identifies encouraging signs that suggest the conclusion of the current tightening cycle is within reach. With a robust balance sheet and regulatory capital, the company is well-equipped to navigate through the remainder of this cyclical downturn. Moreover, Peel Hunt is poised to benefit from the normalization of market conditions.
Popular
All Rights Reserved © 2024
Write Your Comment