11th Feb 2014 09:18
LONDON (Alliance News) - Walker Crips Group PLC said Tuesday its fourth quarter had started well and expressed confidence that its turnaround strategy would produce continued growth and improved performance over the medium term.
The financial services company saw like-for-like revenues rise 16% in the third quarter ended December 31, 2013. Net adjusted revenue rose to GBP3.5 million, compared to GBP3.3 million in the previous year, boosted by higher commission and increased investment management fee income.
Walker Crips saw its Discretionary and Advisory assets at the end of the period rise to GBP1.25 billion from GBP1.15 billion a year before, which it said demonstrated its new strategy's attraction to incoming new investment managers and advisers.
Walker Crips implemented a new strategic plan following the disposal of Walker Crips Asset Managers Ltd in April 2012, looking to build its investment management division and expand its wealth management division.
Despite an improvement in trading conditions, Walker Crips warned that uncertainty remains in financial markets.
Shares in Walker Crips were trading up 4.3% at 45.38 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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