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Walker Crips sees profits fall by 8pc
WALKER Crips has announced that its pre-tax profits fell by 8.1 per cent in the six months to the end of September.
Pre-tax profit at the broker fell to £830,000, while revenue rose seven per cent to £10.65m and gross profit increased by 2.5 per cent to £7.4m.
The company was exposed to bankrupt brokerage MF Global UK, which entered the UK’s new Special Administration Regime in October, according to a statement.
However, the board expects the “situation will be resolved without a material impact on the financial or trading position of the company.”
David Gelber, chairman of Walker Crips, said he was confident in the long-term improvement for the group.