Peel Hunt posts £1.5m loss in 'most challenging' year since founding

Revenue fell 37.2%

Peel Hunt reported a £1.5m loss this year, compared to £41.2m in profit in the year before, after a sharp decline in IPOs for the investment bank.

In the firm's annual report, it said this year "has been the most challenging since our foundation", with revenue falling 37.2%, from £131m to just £82.3m for the year end 31 March 2023. Staff costs declined by 21% throughout the year for the firm, despite staff numbers staying steady. Peel Hunt profits wiped out as capital markets activity dries up Due to the tough financial situation, the firm did not issue a dividend, despite issuing a 3.1p dividend per share the year before. Total funds raised for corporate clients fell by 76%, from £3.7bn to £892.4m, while the average numbe...