Walker Crips AUM climbs 50% year-on-year

Walker Crips AUM leapt 50% in the 12 months to 31 March, the firm reported in its annual results.

Walker Crips AUM climbs 50% year-on-year

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Discretionary and advisory assets under management rose from £1.33bn to £2bn – a 50.3% increase – which coupled with administered assets represents a total assets increase of 26.7% to £3.8bn.

The upward flux comes off the back of the stockbroker’s ongoing initiative to gain a more established foothold in the investment management space, which in March saw the firm make its first corporate acquisition for 10 years.

Accordingly, group revenues jumped 11.1% in the same period, from £20.7m to £23m, while net revenue experienced an 8.5% rise to £15.3m, up from £14.1m.

However, operating profit before exceptional expenses was relatively subdued, hitting £540,000 – though represented an increase on the £470,000 recorded in the 12 months prior – while pre-tax profit including acquisitions was £440,000.

This performance resulted in a proposed final dividend of 1.17p per share, a 10.4% on 1.06p a year earlier, taking total yearly dividend up from 1.57 per share to 1.7p.

However, shareholders’ earnings per share underwent a significant drop, sliding from 5.5p to 0.69p per share over the year, a decrease of 87.5%.

Walker Crips chairman David Gelber said: “As the UK economic recovery continues, supported by political stability after the decisive general election, we are confident that the group is well positioned to continue making strides, which will produce higher dividends and added value for the benefit of shareholders.

“Despite increasing competition and significant regulatory initiatives, including MIFiD II over the next 18 months, it is our emphasis on service and integrity which will drive our public profile and competitive positioning to deliver underlying growth in the next phase of the group’s development.”

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