Interim Management Statement
17 July 2009 - 4:00PM
UK Regulatory
TIDMWCW
RNS Number : 8304V
Walker Crips Group plc
17 July 2009
Walker Crips Group plc
Interim Management Statement
Walker Crips Group plc ("WCG" or the "Group"), the integrated financial services
group, is issuing an Interim Management Statement to coincide with its Annual
General Meeting which is taking place today, 17 July 2009, at 12.00 pm at
Armourers' Hall, 81 Coleman Street, London EC2R 5BJ. The statement relates to
the trading quarter ended 30 June 2009 (the "Quarter") unless otherwise stated.
The subdued level of market activity continued into the new fiscal year.
However, as highlighted in the Group's preliminary results announced on 4 June
2009, WCG saw signs of an improvement in trading conditions during the Quarter.
Performance over the Quarter was comfortably in line with the Board's
expectations.
WCG's revenue over the Quarter of GBP3.96m increased by 3% compared with the
GBP3.85m achieved in the previous quarter to 31 March 2009 but was down 9% when
compared with the same quarter last year. This quarter on quarter increase in
revenue is reflective of the improved trading conditions witnessed during the
last few months.
Non-broking revenue expressed as a percentage of total income, WCG's main key
performance indicator, improved to 51.9% during the Quarter (quarter to 30 June
2008: 50.0%).
The Group's fund management subsidiary (WCAM) continued to grow its funds under
management (FUM) and remains highly ranked compared to its competitors. FUM
increased by 13% over the Quarter to stand at GBP433m at 30 June 2009 (31 March
2009: GBP383m).
Overheads continue to be closely monitored and savings are being made where
possible. There have been no significant changes to the balance sheet since the
year end and WCG remains in a strong financial position.
The Board is encouraged by WCG's performance during the financial year to date
and remains confident that WCG is well positioned to capitalise on any sustained
market recovery.
Enquiries:
+------------------------------------+-----------------------------------+
| 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 |
| Tim Richardson / Katherine Hobbs | |
+------------------------------------+-----------------------------------+
17 July 2009
This information is provided by RNS
The company news service from the London Stock Exchange
END
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