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British stockbroker Numis plans EU office within a year

·1-min read

LONDON (Reuters) - British stockbroker Numis said on Tuesday it plans to set up an office based in the European Union within a year to maintain full market access to the bloc, weeks after UK-based finane firms lost their ability to sell products there.

In a trading update ahead of its annual investor meeting, Numis said its revenues were up around 50% over the four months to January compared to the same period the prior year, boosted by a pick-up in both investment banking and advisory work.

Numis said Brexit would have a "minimal impact" on its financial performance in the short term.

"However we believe comprehensive EU market access is strategically important for the business in the longer term," it added.

(Reporting by Iain Withers; Editing by Rachel Armstrong)