REG - Peel Hunt Limited - Year End Trading Update

Peel HuntAnnouncement

01/04/2022 07:00

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RNS Number : 8625G  Peel Hunt Limited  01 April 2022

1 April 2022

Peel Hunt Limited

("Peel Hunt" or the "Group")

 

Year End Trading Update

Peel Hunt, a leading UK investment bank, today announces a trading update for
the financial year ended on 31 March 2022 ("FY22").

 

Performance

Following on from the trading update issued on 23 February 2022, the Group's
trading performance has been ahead of revised analyst expectations, following
a strong end to the year from our Execution & Trading business. As a
result, revenue for the full year is expected to be around £131m.

Investment Banking delivered record revenues for the year, despite the
slow-down in activity across global capital markets in Q4 FY22 as a result of
rising inflation and interest rates, and the devastating war in Ukraine.
Research and Distribution performed in line with our expectations and
Execution & Trading volumes and activity have remained in line with
expectations at a significantly higher level to the pre pandemic run rate.

 

Outlook

Our pipeline of Investment Banking deals remains strong, albeit there is
heightened execution and timing risk in the current environment. The number of
retained corporate clients continues to grow, with 19 new clients added during
the financial year.

 

We continue to benefit from our diversified business model, demonstrated by
the increase in Execution & Trading revenues during periods of higher
market volatility. In addition, our broad range of Investment Banking services
and increased institutional commission market share leaves us well placed to
benefit from any ongoing market dislocation.

 

We are continuing to invest in the business to drive long-term growth, having
made good progress against our strategic priorities. This includes progress
towards establishing a platform and legal entity in the EU and ongoing
investment in our digital strategy and proprietary technology.

 

Notice of full year results

The Company intends to publish its full year results for the financial year
ended 31 March 2022 on 9 June 2022.

 

 

For further information, please contact:

 

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

 Steven Fine, CEO

 Sunil Dhall, CFOO

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

 Andrew Jaques

 Charlie Barker                                peelhunt@mhpc.com

 Robert Collett-Creedy

                                               +44 (0)20 7728 2942

 Grant Thornton UK LLP (Nominated Adviser)

 Colin Aaronson

Keefe, Bruyette & Woods (Corporate Broker)

Alistair McKay
 
 
+44 (0) 207 710 7600

Alberto Moreno Blasco

Fred Walsh

Dennis Towers

 

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 £653m. Our
award-winning research is distributed to over 1,235 institutions across the
UK, Europe and North America. Our trading platform makes markets in over
10,000 instruments in 42 markets and is an increasingly important provider of
trade execution services to the UK retail platforms and brokers.

 

 

 

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