WH Ireland remains confident despite volatile foreign markets

WH IRELAND, the wealth management and corporate broking firm, said it is “cautiously optimistic”on its outlook for the rest of 2015 despite the impact of volatile overseas markets.

Announcing its results for the six months to May 31, the firm – which has its roots in Manchester though it is now run out of London – saw group revenue rise to £15.94m, up from £14.69m in the same period last year.

The group reported pre-tax profits of £593,000, up from £203,000 last time.

The firm’s wealth management division grew funds under management by 3.7% to £2.8bn in the period.

Looking ahead to the second half of the year, the firm said it is likely to face the headwind of various macro-economic uncertainties.

“Currently the most topical are the volatile market conditions in China and the demise of the Greek economy with the attendant uncertainty about her continued participation in the Euro experiment. Nevertheless the cautious optimism that I expressed at the year-end remains appropriate and we look forward to the next six months with confidence,” it said.

Richard Killingbeck, chief executive, said: “We have reported an improved and profitable first half performance with increased discretionary funds under management in private wealth management and increased numbers of clients in corporate broking.

“The actions we have taken in order to achieve the margins that the company is capable of producing will begin to benefit the second half and beyond. We remain cautiously optimistic and look forward to the next six months with confidence.”