Other Citywire websites
Stay connected:

View the article online at http://citywire.co.uk/new-model-adviser/article/a756761

Walker Crips sees profits following overhaul

by William Robins on Jun 13, 2014 at 07:55

Walker Crips sees profits following overhaul

Walker Crips has continued its return to profit on the back of a 'substantial transformation' of its investment management business.

For the 12 months to 31 March 2014, Walker Crips made a profit of £500,000 compared to a loss of £1 million over the same period in 2013.

Net revenues increased 19.5% to £14.1 million, up from £11.8 million, demonstrating, Crips said, a ‘substantial transformation’ of the investment management business.

Assets under management reached £21.4 million as at 31 March, compared to £19.5 million last year.

David Gelber (pictured), chairman of Walker Crips, said: ‘Two years ago the board established a strategic plan to transform the company from a predominantly traditional private client stockbroker to a full service investment and wealth management group.  The strategy is delivering for shareholders with the Group returning to profitability…’

Results of its strategic review began to show last year as posted an operating profit of £300,000 for the six months to September 2013, versus a loss of £1.1 million in the corresponding period of the previous year. Revenue rose 10% to £9.7 million.

Its final proposed dividend has increased 17.8% to 1.06p per share and there will be a special proposed dividend of 1.0p per share, reflecting investment gains from  the sale of Liontrust Convertible Unsecured Loan Stock holdings.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Opportunities emerge as production moves back home

As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

A spotlight on Alastair Mundy

Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.

More about this article:

Look up the shares

  • Walker Crips Group PLC (WCW.L)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them



Saturday Newspaper Summaries

by Himanshu Singh on Aug 02, 2014 at 00:01

Sorry, this link is not
quite ready yet