Peel Hunt reports sharp increase in revenue, profitability
By Josh White
Date: Monday 01 Dec 2025
(Sharecast News) - Peel Hunt reported a sharp increase in revenue and profitability for the first half of its financial year on Monday, citing strong performances across investment banking, research and distribution, and execution services.
The AIM-traded broker said its strategic focus on mid-cap and growth companies, alongside cost reductions, had begun to deliver sustainable returns despite challenging market conditions.
Group revenue rose 38.3% year on year to £74.4m in the six months ended 30 September, while profit before tax surged to £11.5m from £1.2m a year earlier.
Adjusted profit before tax was £18.7m, more than triple the prior period.
Operating costs continued to fall, with headcount down more than 15% from its 2023 financial year peak and fixed costs set to decline by about £5m this year.
Net assets increased to £100.7m from £88.7m, although cash balances fell to £13.6m from £20.4m, which Peel Hunt attributed to debt repayment and higher investment in its trading book.
The investment banking division reported revenue of £32.9m, a 45.6% annual increase, underpinned by a strong equity capital markets business and a step-up in merger and acquisition advisory fees.
Peel Hunt advised on 10 transactions worth £8.1bn during the period, ranking third in the UK public M&A league tables.
The firm now acted for 57 FTSE 350 companies and said the average market capitalisation of its corporate client base had nearly doubled over the past three years to over £1bn.
Execution services achieved revenue growth of 56.8% to £27.6m, delivering its best half-year performance since the pandemic.
Chief executive Steven Fine said the results demonstrated the success of recent strategic initiatives.
"I am delighted with the group's strong financial performance in the first half, which reflects the significant strategic progress we have made in recent years," he said.
"Each part of our business delivered year-on-year growth.
"Our core ECM franchise continues to strengthen, as demonstrated by our being the most active investment bank in UK ECM in the first half of 2026, while our M&A advisory business ranked third in the UK league tables.
"Execution services also delivered its best half-year performance since the Covid lockdown period."
Fine added that trading momentum had continued into the second half.
"The second half has started strongly, with the group continuing to play leading roles across both M&A and ECM mandates.
"Consequently, we are confident in meeting market expectations for the full financial year," he said.
At 0904 GMT, shares in Peel Hunt were up 0.95% at 106p.
Reporting by Josh White for Sharecast.com.
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