Peel Hunt Expects Full-Year Results to Beat Market Expectations

Corporate franchise strength: 58 FTSE 350 clients is a solid platform

The Group now acts for 58 FTSE 350 companies, comprising 5 FTSE 100 and 53 FTSE 250 clients. For a broker-investment bank focused on mid-caps, that is a healthy roster. Corporate broking relationships are the gateway to repeat revenues across research, execution, M&A, and capital markets.

Depth in the FTSE 250 is especially relevant. That is where financing needs often surface first as growth companies tap markets for expansion, acquisitions or balance sheet resilience. The client list is the well from which future mandates flow.

Why this matters for investors

• Guidance upgrade in practice: Saying results will be ahead of market expectations is the key takeaway. It effectively nudges consensus up without publishing numbers.
• Revenue breadth: Investment Banking, ECM and Execution are all contributing. That reduces reliance on any single revenue stream and points to a more durable improvement.
• Signs of market normalisation: References to nascent ECM and substantial M&A suggest the UK deal and issuance cycle is warming up after a prolonged lull.

Key figures and details from the RNS

Financial year	FY26 (current year)
Outlook	Expect full-year results ahead of market expectations
Corporate clients	58 FTSE 350 (5 FTSE 100, 53 FTSE 250)
Investment Banking	Acted on a number of substantial M&A transactions
ECM activity	Nascent activity; supported clients on equity raises and block trades
Execution Services	Revenues materially ahead of the equivalent prior year period
Next update	Revenues for the first six months of FY26 on 1 October 2025
Listing	AIM: PEEL
Offices	London, New York, Copenhagen

Reading between the lines: positives and watchouts

Positives I like

• Clear upgrade language: The phrase ahead of market expectations is unambiguous. It should reset sentiment.
• ECM reawakening: Equity raises and block trades are often the first shoots before a broader reopening of issuance. That plays to Peel Hunt’s strengths.
• Execution outperformance: Trading revenue being materially higher than last year indicates robust client engagement and potential market share gains.
• Client franchise depth: 58 FTSE 350 mandates is a strong base for cross-sell and future deal flow, especially in the FTSE 250.

What is not disclosed

• No revenue or profit numbers, no margin or cost detail.
• No specific transaction names or fee visibility.
• No guidance range, just direction of travel.

Watchouts

• Deal timing risk: M&A and ECM can slip across periods, creating revenue volatility.
• Market dependency: Activity levels are sensitive to UK equity market sentiment and macro conditions.
• Visibility: Without hard numbers, it is hard to gauge the scale of the beat versus expectations.

Regulatory note: inside information handled per UK MAR

The company flagged that this announcement contained inside information under the Market Abuse Regulation until publication. That simply means material, price-sensitive information has now been put into the public domain at the same time for all investors.

What I am watching next into 1 October

• First-half revenues: The quantum will tell us how far ahead of expectations Peel Hunt is running.
• Revenue mix: How much is coming from Investment Banking and ECM versus Execution Services.
• ECM pipeline texture: Any commentary on the pace of equity raises and whether activity is broadening.
• Cost discipline: Not disclosed today, but margins will matter if activity accelerates.

Bottom line: a clean, confidence-building trading update

This is a straightforward and encouraging RNS. Activity is up across key divisions, the corporate client base is strong, and management expects to beat market expectations for the full year. For a business geared to UK mid-cap markets, the return of ECM and steady M&A work are exactly what shareholders want to see.

We now look to 1 October for the first-half revenue print. If the numbers corroborate today’s tone, the narrative of recovery at Peel Hunt will look increasingly well founded.