LONDON, DEC 7 - Stockbroker Numis Corp
The firm, which focuses on small to mid-cap clients, said adjusted profit before tax increased to 8.9 million pounds in the year to end-September. Revenue was 4 percent higher at 54.2 million pounds.
Fees from mergers and acquisitions jumped 94 percent to 9.3 million pounds from 4.8 million pounds last year.
Numis has delivered a creditable performance against a background of huge economic uncertainty, highly volatile markets and unrelenting competition, said Oliver Hemsley, Numis' chief executive, in a statement. We see little change to these conditions in the near term.
Top brokerages have navigated choppy waters in the last few months, as clients flee volatile markets for perceived safe havens such as commodities or currencies. That has dampened demand for brokers' services.
The company maintained its final dividend at 4 pence per share, giving a total of 8 pence -- the same as 2009 and 2010.
(Reporting by Yeganeh Torbati; editing by Laurence Fletcher)