Peel Hunt Ltd - London-based stock broker and investment bank - Revenue in the financial year that ended on Friday will be in line with market expectations at about £82 million, down 39% from £131.0 million in financial 2022. Peel Hunt expects to be ‘marginally loss making’ in financial 2023, compared to market expectations of broadly break even. The revenue decline is due to an ‘uncertain global economic environment’ hurting Investment Banking revenue, it says, while capital markets activity was at ‘historic lows’ throughout the recent financial year. Peel Hunt says costs increased as expected following its initial public offering, and it faces inflationary cost pressures.

Peel Hunt added 19 new corporate clients during financial 2023 and currently acts for 39 FTSE 350 clients. The company is set to relaunch its REX platform as RetailBook. This gives retail investors access to IPOs and other primary share offers. Peel Hunt says it received on Friday regulatory approval to open an office in Copenhagen.

It will release its full financial 2023 results on June 16.

Current stock price: 102.42 pence, down 3.4% on Monday

12-month change: down 18%

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