Walker Crips’s discretionary and advisory assets under management (AuM) increased to £2bn at the end of March 2015, a surge of 50.3% compared to £1.33bn a year ago.
The group registered a 12.6% rise in revenues from its investment management arm to £20.6m, which the company said is partly due to opportunities presented by competitors’ failings.
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Operating profit before exceptional expenses increased, for the second year running, by 14.9% to £540,000 from £470,000 a year earlier.
For the year ended 31 March 2015, the company’s pre-tax profit declined to £400,000 from £2.5m in 2014, when the company benefited from investment disposal gains of £1.84m.
Commenting on the results, 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.
"Trading activity in the opening weeks of the new financial year has started strongly. 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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