Wealth and investment manager Walker Crips sounded a cautious note as it produced a much-improved result for its most recent financial year, ending 31 March 2020.

Annual revenues at the firm were up 3 percent to £31.4 million (2019: £30.5 million), while administrative costs rose by about £600,000 – or 2.7 percent – to £20.9 million.

Operating profit for the year was £1.09 million (2019: £402,000) and profit before tax for the year was £963,000 (2019: £489,000), with both these figures benefiting from the £209,000 recovery of a long-disputed insurance claim and the reassessment of a deferred cash considerat...