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July 19, 2017updated 20 Jul 2017 6:17am

Walker Crips annual pre-tax profit slides

British wealth manager Walker Crips has posted a pre-tax profit of £0.80m for the year ended 31 March 2017, a fall of 15% from £0.94m a year earlier.

The group’s underlying operating profit, before tax and exceptional items, increased to £1.14m from £0.65m last year.

Revenues during the period stood at £29.2m, up 12% from £26.1m in the previous year. Discretionary and advisory assets under management totalled £3.2bn at the end of March 2017, a 39% surge over £2.3bn at the end of March 2016.

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 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,” Gelber added.

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