Walker Crips to raise dividend after strong annual results

Walker Crips has reported a 12% jump in group revenues for the year ended 31 March 2017, while its profits before tax almost doubled compared with the previous year.

Walker Crips to raise dividend after strong annual results

The financial services group reported that group revenues rose from £26.1m in 2016, to £29.2m, while underlying operating profit before tax and exceptional items, increased from £651,000 to £1.14m.

However, its reported profit before tax fell from £944,000 to £804,000.

Over the same time period the stockbroking, investment and wealth management services firm reported a 39.1% surge in its discretionary and advisory assets under management (AUM), to a record high of £3.2bn.

Following these results the board is recommending a 1.6% increase in the final dividend to 1.29 pence per share, up from 1.27p in 2016. This would bring the total dividend for the year to 1.87p a share, up from 1.85p in 2016.

Commenting on the results, Walker Crips chairman David Gelber, said: “The delivery of personal investment advice and investment management remains at the core of our approach as we looked to refine our client-focused strategy regularly during the year. Our aim is to increase shareholder value by growing revenue, improving efficiency and continuing to increase our dividend payments.

We continue to advance the delivery of our strategy for growth in a fast-moving sector in which the pace of change in regulation and technology are a constant.

“In recent years we have achieved substantial growth, continuing to refine our strategy and business model to make further strides towards attaining our long-term strategic goals. We are now even more committed to increasing our service proposition through greater use of technology that is relevant to clients, intermediaries and our own advisers.”

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