Peel Hunt (PEEL) H2 2026 earnings summary

Executive summary

• Achieved record revenue of £143.5m for FY26, up 57% year-over-year, and profit of £21.1m versus a loss of £3.5m in FY25, driven by strong M&A advisory and execution services.

• Diversification strategy and technology investments supported profitability and operational efficiency, with a 15% headcount reduction and £5m in annual cost savings.

• Ranked #1 in UK mid-cap M&A, ECM, and liquidity provision, with 147 corporate clients, including 61 FTSE 350 companies.

Financial highlights

• Revenue rose to £143.5m (FY25: £91.3m), with Investment Banking revenue at £67.1m (+113%), Execution Services at £47.8m (+42%), and Research & Distribution at £28.6m (+9.5%).

• Adjusted profit before tax was £32.0m (FY25: £0.8m), and net assets increased to £108.5m (FY25: £88.7m).

• Adjusted staff costs rose to £69.9m, reflecting higher variable compensation, while non-staff costs increased modestly by 2.3%.

• Cash and cash equivalents at year-end were £36.9m, up from £20.4m in FY25.

Outlook and guidance

• UK market reforms and regulatory changes are expected to drive further growth in capital markets activity and investor demand.

• Anticipates continued momentum in M&A and ECM, supported by a robust client base and international investor participation.

• Ongoing focus on cost discipline, technology innovation, and operational scalability to sustain profitability.