Interim Management Statement

RNS Number : 4355K

Walker Crips Group plc

15 July 2011

 



Walker Crips Group plc 

Interim Management Statement

Walker Crips Group plc ("WCG" or the "Group"), the integrated financial services group, is issuing an Interim Management Statement to coincide with its Annual General Meeting which is taking place today, 15 July 2011, at 11.00 am at Armourers' Hall, 81 Coleman Street, London EC2R 5BJ. The statement relates to the trading quarter ended 30 June 2011 (the "Quarter") unless otherwise stated.

WCG's revenue over the Quarter increased by 11% to £5.0m compared with the £4.5m achieved in the same quarter last year. This is reflective of the improved, if inconsistent, trading conditions seen towards the end of the period.

Although stockbroking commission remained subdued, an improvement in non-broking income derived mainly from assets under management has resulted in an overall increase in total revenue.

The Group's fund management subsidiary (WCAM) continued to grow its funds under management (FUM) and build upon its growing reputation. FUM increased to £846m at the end of the Quarter, a 7.5% increase since the year end (31 March 2011:£787m).

The Group remains in a strong financial position. The changing mix of business referred to above, has led to an improvement in the Group's proportion of more stable non broking income to total income to 56.9% (Year ended 31 March 2011:52.3%).

The Board is encouraged by WCG's performance in the opening quarter of the financial year which is in line with expectations. The Group's range of products should enable further steady progress during the year.

 

Enquiries:

Walker Crips Group plc                        Rodney FitzGerald, Chief Executive	Tel: [phone]
Altium   Tim Richardson / Katherine Hobbs	Tel: [phone]

15 July 2011

 

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