Walker Crips pins bleak profit warning on Brexit fears

Full results are due in July

Walker Crips has blamed Brexit for a bleak profit warning, issued to the market late yesterday afternoon (26 February).

The national wealth and investment manager referred back to its interim results for the period to 30 September 2018 - announced on 27 November 2018 - when it had hoped for a pick-up in performance in the second half. However, Walker Crips' trading update advised that while its cost saving measures and "introduction of new revenue streams" would continue, the uncertainty around the UK's exit from the EU leads the firm to believe its full-year performance will be "much lower than the reported results for the prior year to 31 March 2018". Walker Crips rebrands private client investment b...