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Walker Crips' new starts drive 35% jump in stockbroking commission
Markets
by Sarah Miloudi on Feb 08, 2013 at 07:39
Walker Crips' plan to focus the business on investment management has started to pay off, with its stockbroking commission revenue soaring 35%.
The sharp rise was down to the contribution of advisers and investment managers who joined the firm in the last year, Walker Crips said, as it announced it also enjoyed 'substantial growth' in like-for-like fee revenue.
Overall, the group's revenue decreased 3.8% during the three months from 1 October to 31 December, the third quarter in its financial year.
This dip had been anticipated, and it followed the sale of Walker Crips' asset management division to Liontrust.
Looking forward, Walker Crips' investors were told plans for the future involved continued organic growth.
'The current quarter has started strongly, and, if recent optimistic investor sentiment sustained, the board believes there are opportunities to develop existing and new products,' the board said.
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