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Business News

Numis profits treble as markets leap

Profits at the stockbroker and investment bank Numis more than trebled in the past six months as stock markets soared and share flotations made a comeback.

Oliver Hemsley, the company's chief executive, said: "My view is that equities will continue to perform well and that institutions have a lot of money coming in, some of which will end up in stock markets and initial public offerings."

Pre-tax profits soared from £2.6m to £9.2m in the six months to the end of March on revenues up 39 per cent at £32.4m. Shares rose 6p to 154p.