Actualización de operaciones de fin de año
3 de abril de 2024
Peel caza limitada
("Peel Hunt" o la "Compañía")
Actualización de operaciones de fin de año
Another resilient performance in challenging market conditions
Peel Hunt, a leading UK investment bank, today announces a trading update for the financial year ended 31 March 2024 ("FY24").
Rendimiento financiero
Revenue for the full year is expected to be consistent with market expectations at approximately £85.5m (FY23: £82.3m), an increase of approximately 4% year-on-year despite equity capital markets remaining challenging throughout FY24. However, this was not quite sufficient to offset cost pressures and consequently we expect to report a loss for the full year broadly in line with market expectations.
The overall increase in revenues was driven largely by Investment Banking, with M&A revenues in particular accounting for a large proportion of Investment Banking deal fees. This shows demonstrable progress with our strategy to diversify revenues across different investment banking products. Whilst research payments were resilient, there was less institutional trading activity market wide in the period and so we saw a modest reduction in overall Research & Distribution revenues. Execution Services revenue reduced, again in line with overall lower market volumes.
Mayor progreso estratégico
During the year, we made good progress in delivering on our strategic priorities, putting us in a strong position for when market conditions improve.
We continued to evolve our corporate client base, with 18 new client wins during the period, including 5 FTSE 350 clients. We now act for 150 corporate clients of which 43 are in the FTSE 350, and the aggregate market capitalisation of our clients has risen by 5.81% in the period to over £110bn.
During the year we invested in the platform in a measured way, taking advantage of our strong balance sheet and market dislocation to add talent in key areas such as senior hires into our Investment Banking and Institutional Electronic Trading teams. We also further strengthened our European mid-cap distribution with the opening of Peel Hunt Europe, headquartered in Copenhagen.
RetailBook has raised the funds for the next stage of its growth and received FCA approval on 2 April 2024. We envisage that RetailBook will begin to operate fully independently of Peel Hunt during the first half of FY25.
Outlook
Market trading volumes remain low and ECM issuance continues to be subdued. We expect these trends to continue until there are meaningful signs of recovery in the UK economy and fund outflows reverse. However, we continue to be active in public M&A, with financial advisory mandates on both the buy and sell side. Whilst IPO activity in the UK remains muted, there has been more activity in Europe and sentiment towards IPOs is improving in the UK, with investors increasingly willing to engage in relation to high quality companies.
Aviso de resultados del año completo
La Compañía tiene la intención de publicar sus resultados preliminares del año fiscal 24 el 13 de junio de 2024.
Para más información, por favor póngase en contacto con:
pelar caza: vía Powerscourt
Steven Fine, director ejecutivo
Sunil Dhall, Oficial Principal de Finanzas
Powerscourt (relaciones públicas financieras): + 44 (0) 20 7250 1446
justin griffiths
Cerradura Gilly
Russ Lynch
Grant Thornton UK LLP (Asesor designado): + 44 (0) 20 7728 2942
Felipe Secreto
colin aaronson
Enzo Aliaj
Keefe, Bruyette & Woods (Corporativo Broker): + 44 (0) 20 7710 7600
Alistair McKay
alberto moreno blasco
fred walsh
Akshman Ori
Notas para los editores
Peel Hunt es un banco de inversión líder en el Reino Unido que se especializa en apoyar a empresas de mediana capitalización y en crecimiento. Proporciona asesoramiento y servicios integrados de banca de inversión a empresas del Reino Unido, incluidos mercados de capital social, mercados de capital privado, fusiones y adquisiciones, asesoramiento sobre deuda, relaciones con inversores y corretaje corporativo. El enfoque conjunto de la compañía combina estos servicios con investigación y distribución experta y un centro de servicios de ejecución que proporciona liquidez a los mercados de capitales del Reino Unido, entregando valor tanto a instituciones globales como a contrapartes comerciales. La empresa está admitida a cotización en AIM (LON: PEEL) y tiene oficinas en Londres, Nueva York y Copenhague.
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