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P Interim Results Announcement 1 December 2021 Peel Hunt Limited Half - Year Results for the six months ended 28 September 2021 Strong H1 performance with record investment banking result , on track to meet full - year expectations Peel Hunt Limited ( " Peel Hunt ” , the “ Company ” ) together with its subsidiaries ( the “ Group ” ) today announces unaudited interim results for the period ended 28 September 2021 ( " H1 2022 " ) . These interim results are for the period prior to the admission of the Group to trading on AIM . They have been drawn up to 28 September 2021 , the date immediately prior to the IPO , to make a clear separation between pre- and post - IPO results . The interim results for the Group consolidate Peel Hunt LLP , a limited liability partnership having a corporate member and individual members . Profits derived from the partnership are allocated between the members . Profits attributable to the corporate member are retained within the Group and subject to corporation tax ; profits attributable to individual members comprise the non - controlling interests , with individual members bearing tax liabilities personally . This presentation is consistent with prior financial periods and with the requirements of the Companies Act 2006 as applied to limited liability partnerships . The interim results contain one - off costs , related to the IPO , which have been accrued or paid in H1 2022 . For reference , an unaudited illustrative consolidated income statement to 28 September 2021 ( together with comparatives to 30 September 2020 ( " H1 2021 " ) ) is also presented . This statement illustrates the impact that the reorganisation of the Group's corporate structure , and the IPO , would have had on the consolidated statement of comprehensive income had it taken place on or before 31 March 2020. This statement retains the actual revenue results and considers the addition of continuing items comprising all former members of Peel Hunt LLP being remunerated as employees , additional National Insurance contributions and additional pension costs ; the statement has also been adjusted to remove the impact of one - off costs relating to the IPO , and tax related prior year items arising in the period . Partnership profits historically allocated to the former individual members , or non - controlling interests , are attributed to the Group in full and are shown as if subject to corporation tax . In summary . We are on track to meet market expectations • • All three business divisions continued to make progress : ○ O о Investment Banking achieved record results , with revenue up 43 % to £ 32.7m ; retainer income up 15 % reflecting new client wins ; and a 15 % increase in average market cap of clients Strong performance by Research & Distribution in a slower market , with continued momentum in new accounts , adding 18 research agreements and 20 trading accounts Execution & Trading performance moderated in line with our expectations , with trading volumes , market share and revenue remaining higher than before the pandemic Successful completion of our IPO • We maintained our strong capital position , strengthened by net proceeds from the IPO • • Continued investment in technology to develop and enhance our range of systematic trading products We were named the UK's best overall broker focused on UK mid & small - cap companies in Institutional Investor's 2021 Europe Survey 1