By Benjamin Chiou
Date: Friday 14 Jun 2013
LONDON (ShareCast) - AIM-listed financial services group Walker Crips reported flat revenue but delivered record pre-tax profits in the year ended March 31st after a one-off gain from the disposal of its fund management subsidiary last year.
The company, which provides investment management and wealth management services, said that pre-tax profits reached a record £9.1m, up from £0.6m the year before, helped by the £11.7m profit from the sale of Walker Crips Asset Managers (WCAM) in April 2012.
Shares were up 1.81% at 31.56p in early trading on Friday morning.
However, before booking this gain, the operating loss for the year totalled £1.0m for the year, compared with a profit of £0.8m the year before, which reflected weak trading conditions and lower volumes during most of the period.
While things picked up in the final quarter, this dented private-client commission income and, combined with an increase in the proportion of shared revenues, led to a rise in commission paid to £8.6m (2012: £5.7m).
Revenue totalled £20.3m, unchanged from the prior year despite the loss of WCAM income of nearly £3.5m the year before. Assets under management and administration rose by 43% to £2.0bn
The full-year dividend was raised to a record 8.87p per share (1.84p the year before) after the 7.5p special interim dividend which was paid from the profits of the disposal of WCAM.
"As a result of the strategic initiatives and changes implemented during the year, we have seen a consistent run rate of profitability in the months immediately before and since the year end. This gives us measured optimism for the current year," said Chairman David Gelber.
"Many worldwide financial issues remain unresolved, the continuing uncertainty from international monetary easing and ongoing Eurozone issues to name just two. However, despite volatility, global equity markets have shown some resilience and this has assisted in an encouraging start to the current year for the group.|
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Currency | UK Pounds |
Share Price | 22.50p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 26.50 |
52 Week Low | 21.50 |
Volume | 65 |
Shares Issued | 43.33m |
Market Cap | £9.75m |
RiskGrade | 43 |
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Latest | Previous | |
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Interim | Final | |
Ex-Div | 11-Jan-24 | 21-Sep-23 |
Paid | 26-Jan-24 | 06-Oct-23 |
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Time | Volume / Share Price |
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