The results included “uncontrollable costs” levied by the FSCS of £402,000 - up from £310,000 in 2014 - while overall administrative expenses in the period also climbed to £8.4m, from £7.4m during the previous nine months.
Some of these were down to the March acquisition of Barker Poland Asset Management, which made its first full contribution to the financial results, materially increasing the proportion of Walker Crips’ revenues earned as fees, rather than through transaction-driven commissions.
Higher employment costs, particularly in revenue generating areas, yielded correspondingly higher revenues after a delay in transferring new clients and assets across.
Gross profit - net revenues - increased by 20 per cent to £8.9m, from £7.4m in 2014, meaning improved profit before tax for the period, from the restated prior period amount of £100,000 to £600,000.
Fee and non-broking income is now 60 per cent of total income - up from 57 per cent last year -reflecting the strategy to reduce reliance on transaction-driven commission revenue.
Total assets under management and administration increased by 22 per cent to £3.9bn, up from £3.2bn last September and £3.8bn at the end of March.
Of that, discretionary and advisory assets under management represented £2.1bn, up 31 per cent from the £1.6bn figure last September.
David Gelber, chairman at Walker Crips, said despite difficult markets, significant progress was made during the period.
He said: “Following its acquisition in March, Barker Poland Asset Management has made its first full contribution to our results and we continue to increase the proportion of our revenues earned as fees, rather than through transaction-driven commissions.
“Whilst striving to set higher regulatory standards and client service levels, incurring increasing related costs, we continue to drive our strategy for growth, with its focus on premium service and integrity in all we do for clients.”