Walker Crips FY10 Pretax Profit +39% To GBP1.52M, Raises Dividend

8th Jun 2010 07:51

LONDON (Dow Jones)--Walker Crips Group PLC (WCW.LN), an integrated financial services group, Tuesday reported a 39% rise in fiscal 2010 pretax profit and raised the dividend to reflects the Board's confidence in the future strength and profitability of the business. MAIN FACTS: -Total revenue for year ended March 31 up 11% to GBP17.64 million (2009: GBP15.86 million) -Operating profit up 61% to GBP1.47 million (2009: GBP0.91 million) -Pre-tax profit up 39% to GBP1.52 million (2009: GBP1.09 million) -Diluted EPS 2.8 pence (2009: 2.2 pence) -Proposed final dividend increased to 1.7 pence per share (2009: 1.6 pence per share) making a total for the year of 2.64 pence per share (2009: 2.54 pence per share). -Net cash resources at year end increased to GBP5.6 million (2009: GBP3.3 million); Current level of cash resources within the business remains more than sufficient for working capital purposes and provides adequate headroom even when faced with volatile business flows. -WCAM funds under management increased to GBP630 million at the year end (March 31, 2009: GBP383 million; Sep. 30, 2009: GBP519 million). -Commission from retail stockbroking up by 24% to GBP7.9 million (2009: GBP6.4 million). -Administrative expenses remained stable through continuous emphasis on cost control. -Over the past few months the Board has seen a degree of confidence return to its markets. -Although uncertainty remains, the Board is confident of the Group's market position and ability to increase profitability as economic conditions improve. -Shares closed Monday at 45 pence valuing the company at GBP16.47 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires June 08, 2010 02:51 ET (06:51 GMT)