Walker Crips Group sees revenues rise 12.2 per cent in Q2
Walker Crips Group has reported a 12.2 per cent increase in net group revenue for Q2 2014 to GBP3.6 million, compared with GBP3.2 million in the corresponding period last year.
Net fees across all the group’s activities accounted for most of this increase, rising 20 per cent.
A relatively smaller increase in net commission from broking revenues has led to an increase in the proportion of non-broking to total income to 54.1 per cent from 52.7 per cent in the year ended 31 March 2014.
Discretionary and advisory assets under management at 30 June 2014 were up three per cent since March 2014 and 28 per cent since the prior year to GBP1.37 billion (31 March 2014: GBP1.33 billion; 30 June 2013: GBP1.07 billion).
During the quarter, the investment management division further expanded its team with the recruitment of seven investment managers.
The group has more than GBP10 million of net cash on its balance sheet.
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