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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