Walker Crips Group
Walker Crips profits plunge in first half
Walker Crips Group PLC saw pretax profits plunge 42 percent year-on-year in the first half and expects the challenging trading conditions to impact performance for the remainder of the year.
Pretax profits in the six months to September 30 2008 fell to £0.81 million from £1.40 million in the previous first half, while revenue was down 5.7 percent at £8.56 million, the fund manager and stockbroker said.
Funds under management dipped 0.5 percent to £403 million at the end of September compared to £405 million at the end of March 2008.
Chairman David Gelber said: “Although we can see little in the way of short term relief from the stresses in financial markets, I remain cautiously optimistic about the outlook in the medium to longer term.
“The ongoing unpredictability and volatility in investor sentiment and market confidence is presenting the company with a very challenging operating environment which is likely to impact materially on the company's financial performance for the remainder of the current financial year, he added.”
Walker Crips is maintaining the interim dividend at 0.94 pence a share.
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