Walker Crips Group is continuing to pursue its growth agenda after a successful last quarter of 2013, with assets under management jumping by 33% over the year.
The latest set of results points to improved performance and profitability during Q4 2013, which positions the group for further organic growth and 'suitable acquisitions', it said.
Discretionary and advisory AUM jumped from £940m at the end of 2012 to £1.25bn by the end of 2013.
Revenue also increased over the last quarter, up 16.3% on a like-for-like basis, driven by higher commission and increased investment management fee income on the one hand, and more favourable market conditions on the other.
In a statement, the group said: "[Our] turnaround strategy continues to deliver results. [We] remain in a strong financial position with more than £10m of net cash on [our] balance sheet, an important factor in both attracting new revenue generating investment managers and advisers and in pursuing [our] growth plans organically and through suitable acquisitions."
The proportion of non-broking income over the quarter also increased from the same period last year, up from 53.9% to 55.1%.
The group added: "The current quarter has started well and the board is confident that continued pursuit of its adopted strategy will enable WCG to continue the trend in growth and improved performance over the medium term."
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