Walker Crips chairman cautions on economy despite profit growth

The chairman of Walker Crips David Gelber said short-term economic uncertainty has impacted the group's trading, despite a rise in revenues, and predicted a subdued outlook for the UK.

According to its preliminary results for the year ending 31 March 2011, released today, Walker Crips reported pre-tax profits grew 15% from £1.52m to £1.75m between 2010 and 2011, after payment of a FSCS levy of more than £200,00, which the group said was "unexpectedly high." Walker Crips, which features fund managers Stephen Bailey and Jan Luthman, also saw total revenue increase 14% year-on-year to £20.12m, while net revenue climbed 12.5% to £14.99m. Total funds under management increased to £787m from £630m and basic earnings per share jumped 17% to 3.35p. Proposed final dividend w...