Peel Hunt’s profits before tax fell a staggering 99.7% in the last six months, following a drought of IPOs for the investment bank.
Pre-tax profits for the firm dropped to just £100,000 in the six months to 30 September 2022, compared to £29.5m in the year before. Revenue was also down substantially, falling 42.4% from £71.4m to £41.1m. The collapse was largely driven by a 74% drop in investment banking fees, from £28.8m to just £7.5m. AIM IPOs reach 13-year low in Q3 Peel Hunt explained that in the first six months of the year, there had only been five UK IPOs, compared to 37 in the year before, while UK equity capital markets saw only 97 deals raising £7.9bn, compared to 257 deals raising £28.5bn in the y...
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