UK-listed Walker Crips Group, which provides stockbroking, portfolio and wealth management services, has reported an increase in total assets under management and administration of 43 per cent to £2 billion ($3.1 billion) for the year ending March 2013.

The firm delivered pre-tax profits of £9.1 billion compared to £600,000 for the prior year.

Walker Crips attributed this rise to the one-off gain of £11.7 million it made from the sale of its fund management subsidiary to Liontrust Asset Management in April 2012.

The group said that as a result of this deal earnings per share jumped from £0.77 in 2012 to £25.21.

Group revenue for the end of March 2013 remained stable at £20.3 million.

“As a result of the strategic initiatives and changes implemented during the year, we have seen a consistent run rate of profitability in the months immediately before and since the year end. This gives us measured optimism for the current year. Despite volatility, global equity markets have shown some resilience and this has assisted in an encouraging start to the current year for the group," said chairman David Gelber.