Interim Management Statement (5921A)
February 03 2011 - 1:00AM
UK Regulatory
TIDMWCW
RNS Number : 5921A
Walker Crips Group plc
03 February 2011
Walker Crips Group Plc
Interim Management Statement
Walker Crips Group Plc ("WCG" or the "Group"), the integrated
financial services group, is today issuing an Interim Management
Statement. The statement covers the period from 1 October 2010 to
31 December 2010 (the "Quarter") unless otherwise stated.
The Quarter is the third of WCG's current financial year.
Trading levels continued to improve as a degree of confidence
returned to financial markets. Group net revenue for the Quarter
increased to GBP3.76m (2009: 3.41m), a 10.2% increase over the same
quarter in the prior year.
WCAM, our asset management subsidiary, continued to build upon
its growing reputation. Funds under management increased to GBP753m
at 31 December 2010 compared to GBP750m at 30 September 2010 and
GBP597m at the 31 December 2009.
There have been no significant changes to the balance sheet
since the half year end on 30 September 2010 and WCG remains in a
strong financial position.
A press release on 20 January 2011 from the Financial Services
Compensation Scheme ("FSCS") announced a second interim levy for
2010/11. The Group has recently received invoices showing an
allocation of GBP220,000 in respect of these levies, which was in
excess of our expectations. These additional charges have arisen
mainly through the failure of Keydata Investment Services Limited
and Wills & Co. The Group is not in any way implicated in these
failures.
Trading conditions since the end of the Quarter have remained
encouraging. Whilst the second interim levy will have an impact on
full year profitability, the Group remains positive about the final
quarter.
For further information, please contact:
Walker Crips Group Plc Tel: +44 (0)20 3100 8000
Rodney FitzGerald, Chief Executive
Stephen Bailey, Investment Director
Altium Tel: +44 (0) 20 7484 4040
Ben Thorne
Tim Richardson
3 February 2011
This information is provided by RNS
The company news service from the London Stock Exchange
END
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