Investment and wealth manager Walker Crips has reported improved interim results, with its chairman describing the period as “encouraging”.

Its statutory pre-tax profit figure for the six months to 30 September improved 191 percent from £213,000 in 2018 to £620,000 in 2019.

However, chairman David Gelber pointed out that this figure was favourably impacted by a £209,000 insurance pay out, recovered following arbitration. He said a profit of £408,000 was a more accurate figure.

Walker Crips’ profit margin remains very low by industry standards, albeit improved. Assets under management sat at £5.1 bil...