Peel Hunt has posted a dip in revenues and profits in the six months to 28 September.
The group’s revenues were down 23.4% from £93.2m to £71.4m, whilst pre-tax profits fell from £56.6m to £29.5m.
The broker said that results were in line with expectations after the “exceptional trading and heightened market activity” during the height of the pandemic.
Steven Fine, the chief executive, said: “We continue to grow our number of retained Investment Banking clients and have a healthy deal pipeline with a strong balance of transactions.”
“We’re well-positioned to execute our growth plans, which include opening a European office to support our growing distribution franchise across the continent. We remain on track to deliver on our budget for the year.”