Good morning! It's Paul here with Friday's SCVR.

Timing - today's report is now finished, there's hardly any relevant news, and a lunch opportunity has just arisen, so I'll down tools for the week. Have a smashing weekend!

My recent article on Boohoo (LON:BOO) (I hold) results wasn't quite finished, so this is just to flag up that I spent some time yesterday afternoon typing up the rest of my notes from the company's webinar. So here's the link for the completed report.

It's quiet for news today, but I won't short change you! I might look at a new float instead.

Agenda -

Numis (LON:NUM) - stunningly good interim results. Cyclical business of course, but everything seems to be booming at the moment.

Kitwave Group - a new listing on AIM, in the pipeline. I've started to look at it, and see enough positives to make me want to dig a bit deeper.

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Numis (LON:NUM)

418p (up 7% at 08:33) - mkt cap £450m

Numis is a leading independent investment banking group offering a full range of research, execution, corporate broking and advisory services to companies in the UK and their investors. Numis is listed on AIM, and employs approximately 290 staff in London and New York.

I last looked at this listed broker here in July 2020, when it issued a positive trading update, with upbeat outlook comments. Last year, there were bumper fees from many fundraisings, whereas this year M&A and IPOs are surging. Even Wh Ireland (LON:WHI) managed to report a profit recently, so market conditions must be outstanding.

Half Year Results

For the six months to 31 March 2021.

Take a look at these figures, which are stunningly good, albeit against soft H1 comparatives. H2 last year was much stronger -

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Share repurchases of £11.5m done, which should enhance EPS. Or some people see share buybacks as a way to disguise dilution from share options, if you’re more cynical.

Picking a few interesting points of wider interest, from the commentary (these are all copy/pasted, with nothing added by me) -

  • As markets exhibited signs of a sustained recovery, volatility subsided, and corporate confidence returned, the environment for capital markets activity improved significantly
  • IPO volumes over the…

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