Broker Peel Hunt flags profit miss on delay in investment banking deals By Reuters

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(Reuters) – British broker Peel Hunt said on Wednesday it expected full-year earnings to miss analyst views, hurt by deal delays in its investment banking unit and a slowdown in its trading division, sending its shares more than 13% lower in early trade .

The company, which made its market debut in September last year, said investor sentiment has been negatively affected by inflation worries and global geopolitical events, including the latest Russia-Ukraine conflict.

“The backdrop for capital markets activity has been particularly challenging,” the London-listed company said in a statement, as markets are also dealing with lower investor confidence due to the Omicron variant of the coronavirus.

Peel Hunt, however, said it still expected to post record full-year revenues in its ‘investment banking’ division, as it continued to see a growth in corporate client numbers.

In December, it had reported interim pretax profit of 29.5 million pounds ($ 40.14 million) for the six months ended Sept. 28, and had said it was on track to meet its full year outlook.

($ 1 = 0.7349 pounds)

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