StockMarketWire.com - Financial services group Walker Crips posted a higher first-half profit as it boosted management fee income.

Pre-tax profit for the six months through September rose to £0.62m, up from £0.21m on-year. Revenue rose 3.3% to £15.6m.

The company declared an interim dividend of 0.60 pence per share, up from 0.58p on year.

'Against the ongoing uncertainty surrounding the terms for the United Kingdom's exit from the EU, I report that nervousness of markets has resulted in continued lower levels of volume driven broking commission revenue during the period,' chairman David Gelber said.

However, he added that an increase in investment management fee income, interest margin on managed deposits and trading book revenue had driven an encouraging rise in earnings.

'The improved results for the first half year are an important step in the right direction as the business and newly shaped leadership team looks to build on our core investment management, wealth management and technology competencies,' Gelber said.


At 9:53am: [LON:WCW] Walker Crips Group PLC share price was +0.5p at 27p



Story provided by StockMarketWire.com