Profits plunged at City broker Numis in 2019 as the ongoing political uncertainty caused by Brexit hit trading and dealmaking revenues. But the group has vowed to continue its search for “brilliant” bankers to help it recover.

Numis said pre-tax profits for its financial year ending September 30 were down almost 61% at  £14.1m. Revenues of £111.6m were 18% down on 2018.