London headquartered Walker Crips has recorded a significant increase in revenues and assets under management in its half year results.

London headquarteredWalker Crips has recorded a significant increase in revenues and assets under management in its half year results.

However profits, for the period ended 30 September, were down 50 per cent compared to the same time last year.

Operating profit was £0.13 million ($0.20 million) compared to an operating profit of £0.26 million in 2013. This included FSCS levy costs of  £0.15million which were up from £0.10 million in 2013. 

Revenue increased 12.4 per cent year-on-year to £10.9 million. Discretionary and advisory assets under management at the end of September increased 26.1 per cent to £1.45 billion year-on-year, up from £1.15 billion a year ago, and up 9.4 per cent over the six month period. Total assets under management and administration rose 25 per cent from £2.1 billion a year ago to £2.6 billion.

David Gelber, chairman of Walker Crips, said the firm was focused on expansion nationwide as well as via acquisitions.

"The implementation of our strategic plan continues to strengthen the business and evidences our ability and commitment to expand. We remain committed to increasing shareholder value and to growing the dividend for shareholders not only by focusing on organic growth but also through expansion in London, York and targeted regions through new hires,” Gelber said.

"We also continue to evaluate target companies and businesses for suitably measured and value-added acquisitions,” he added.