LONDON (Alliance News) - Walker Crips Group PLC Friday said first-quarter net revenue increased to GBP3.6 million, from GBP3.2 million in the same quarter last year, despite quieter market conditions, with a 20% increase in net fees across its activities accounting for most of the increase.
In a statement issued to coincide with Friday's annual general meeting, the stockbroker and investment and wealth manager said that a relatively smaller increase in net commission from broking revenues led to an increase in the proportion of non-broking to total income to 54.1%. That percentage compares against the 52.7% of the year ended March 31.
Walker Crips also said that its discretionary and advisory assets under management increased to GBP1.37 billion from GBP1.33 billion in the three months ended June 30.
"Although trading conditions remain uncertain, the board believes that its strategy for asset and revenue growth will continue to deliver positive results over the medium term," Walker Crips said in a statement.
Walker Crips shares were Friday quoted up 2.4% at 49.15 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Walker Crips (WCW)