REG - Peel Hunt Limited - Trading Update

Peel HuntAnnouncement

23/02/2022 07:00

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RNS Number : 4997C  Peel Hunt Limited  23 February 2022

23 February 2022

Peel Hunt Limited

("Peel Hunt" or the "Company")

 

Trading Update

 

Peel Hunt, a leading UK investment bank, is today providing a trading update
for the financial year ending on 31 March 2022 ("FY22"), a further update on
revenues will be provided on or around 31 March 2022.

Since the start of the calendar year, concerns in relation to inflation and
interest rates as well as global geopolitical events have negatively impacted
market conditions and investor sentiment. As a result, the backdrop for
capital markets activity has been particularly challenging.

We continue to have a strong pipeline of corporate transactions, but have seen
a number of deals delayed. Our Investment Banking division continues to win
high quality corporate clients, with the total number growing to 163, and is
expected to post record full year revenues.

Whilst there has been a slow-down in Execution & Trading activity, full
year revenues in that division continue to compare favourably with
pre-pandemic levels. Our Research & Distribution business continues to win
market share and has performed in line with expectations.

As a consequence of delays to the Investment Banking pipeline, beyond 31 March
2022, and Execution & Trading performance in Q4 of FY22, the Company now
expects full year revenue to be marginally below the bottom of the previously
guided range and accordingly earnings will be commensurately lower than
current market expectations.

We continue to invest in the business to drive long term growth and have made
good strategic progress in a number of key areas including development of our
proprietary technology, the roll out of our digital strategy and towards
establishing a platform in the EU.

 

For further information, please contact:

 

 

 Peel Hunt via Engine MHP                     +44 (0)20 3128 8100

 Steven Fine, CEO

 Sunil Dhall, CFOO

 Engine MHP (Financial PR)                    +44 (0)20 3128 8540

 Andrew Jaques

 Charlie Barker                               peelhunt@mhpc.com

 Rachel Mann

 Robert Collett-Creedy

 Grant Thornton UK LLP (Nominated Adviser)    +44 (0)20 7728 2942

 Colin Aaronson

 Daphne Zhang

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU No. 596/2014) (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

 

Notes to editors:

 

Peel Hunt is a leading specialist in UK Investment Banking, ranked number one
broker for UK mid and small-cap companies in Institutional Investor's latest
Europe Survey. Our purpose is to nurture and guide people through the
evolution of business.  We achieve this through a proven, joined-up approach
that consistently delivers value to UK corporates, global institutions and
trading counterparties alike.

 

We have 163 corporate clients (including 33 in the FTSE 100 and FTSE 250),
with an average market capitalisation of approximately £700m. Our
award-winning research is distributed to over 1,245 institutions across the
UK, Europe and US. Our trading platform makes markets in over 10,000
instruments in 38 markets and is an increasingly important provider of trade
execution services to the UK retail platforms and brokers.

 

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