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Highlights

  • PHL FY25 revenue rose 6% YoY to GBP 91.3 million compared with GBP 85.8 million in FY24.
  • The company’s adjusted profit before tax reached GBP 0.8 million, reversing a loss of GBP 2.7 million in FY24
  • PHL advised on its largest-ever M&A deal and expanded its client base to 147, including five FTSE 100 and 47 FTSE 250 companies.

Peel Hunt Limited (LSE:PHL) is a UK-based investment bank focused on corporate advisory, research, execution, and trading services. The company supports mid- and small-cap companies across a range of sectors and maintains a significant presence in both primary and secondary markets. Peel Hunt operates through a diversified group structure and is active in corporate finance, equity research, and electronic trading.

The company has released its audited financial results for the year ended 31 March 2025, reporting increased revenues and continued strategic development despite ongoing volatility in capital markets.  Total revenue for the year rose approximately 6% YoY to GBP 91.3 million, compared with GBP 85.8 million in FY24. Despite subdued equity capital markets (ECM) activity, the company posted an adjusted profit before tax of GBP 0.8 million, improving from an adjusted loss of GBP 2.7 million in the previous year. On a statutory basis, the Group recorded a pre-tax loss of GBP 3.5 million, slightly higher than FY24’s loss of GBP 3.3 million, primarily due to one-off restructuring costs.

Peel Hunt maintained a capital position above regulatory requirements, reporting net assets of GBP 88.7 million and cash reserves of GBP 20.4 million at the end of the period. The Investment Banking division generated GBP 31.5 million in revenue, marginally down from GBP 32.6 million in FY24. The firm noted ongoing weakness in ECM activity but reported continued momentum in its M&A advisory services. Peel Hunt acted on its largest-ever M&A transaction during the year and added 17 new corporate clients. As of 31 March 2025, it advised 147 listed companies, including five constituents of the FTSE 100 and 47 from the FTSE 250.

Peel Hunt also reported growth in the average market capitalisation of its corporate clients, which increased by 15.6% YoY to GBP 869.3 million. The total market capitalisation of its client base exceeded GBP 125 billion, up 12.6% YoY.

Peel Hunt's electronic trading platform achieved its highest annual revenue to date and expanded its client footprint across Europe. In addition, the launch of a new economics product line, including the appointment of a chief economist, enhanced its macroeconomic analysis offering.

Regulatory approval was received in principle for a new office in Abu Dhabi, with preparations underway to establish operations in the region. Peel Hunt also highlighted continued investment in its international reach, especially across Europe and the Middle East.

RetailBook, Peel Hunt’s digital retail investment platform, reached key operational milestones in FY25. It completed multiple fundraisings and expanded its team with hires from the former capital markets team at PrimaryBid. RetailBook also achieved operational independence from the Group during the year.

Looking ahead, Peel Hunt stated that early FY26 trading conditions have improved compared to the end of FY25. Factors cited include trade agreements involving the U.S. and U.K., and interest rate cuts by the Bank of England. While ECM activity remains limited, the company observed signs of renewed institutional interest in UK markets and noted an active M&A pipeline.