Peel Hunt revenue surpasses expectations despite market slowdown amid war in Ukraine
Investment bank Peel Hunt has traded ahead of analyst expectations despite a slowdown in activity after Russia’s invasion of Ukraine.
Its execution and trading business marked a strong end to the year while its investment banking division marked record revenues.
Revenue for the full year is anticipated to stand at around £131m, the City firm said in an update on Friday morning.
This came despite a slowdown in activity across global capital markets in the final quarter, the firm said, pointing to rising inflation and interest rates, and the war in Ukraine.
The broker said last month it was preparing for a slump in profits due to deal delays and the trading slowdown.
“The backdrop for capital markets activity has been particularly challenging,” the London-listed company said at the time.
Peel Hunt made its debut on London’s junior AIM market at the end of September for £280m.