Interim Management Statement

RNS Number : 4414P

Walker Crips Group plc

16 July 2010

 



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, 16 July 2010, at 12.00 pm at Armourers' Hall, 81 Coleman Street, London EC2R 5BJ. The statement relates to the trading quarter ended 30 June 2010 (the "Quarter") unless otherwise stated.

Trading activity has continued at the improved levels of recent months despite a background of uncertainty and volatility. The Group's first quarter performance is ahead of the same period last year and in line with the Board's expectations.

WCG's revenue over the Quarter increased by 14% to £4.52m compared with the £3.96m achieved in the same quarter last year. This is reflective of the more favourable trading conditions witnessed recently. 

The Group's fund management subsidiary (WCAM) continued to grow its funds under management (FUM) and remains highly ranked compared to its competitors. FUM increased by 2.4% over the Quarter to stand at £645m at 30 June 2010 (31 March 2010: £630m).

The Group continues to remain in a strong financial position and administrative expenses continue to be closely monitored. However, as previously highlighted, we expect some upward pressure on the cost base as the year progresses.

The Board is encouraged by WCG's performance in the opening quarter of the financial year and remains confident in the Group's ability to benefit from further market improvements.

Enquiries:

Walker Crips Group plc                       Rodney FitzGerald, Chief Executive Stephen Bailey, Investment Director	Tel: [phone]
Altium                                   Tim Richardson Katherine Hobbs	Tel: [phone]

16 July 2010

 

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