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.