Announcement • Mar 03
PhillipCapital UK Ltd completed the acquisition of 70.97% stake in Walker Crips Group plc (LSE:WCW) from group of shareholders. PhillipCapital UK Ltd entered into agreement to acquire 70.97% stake in Walker Crips Group plc (LSE:WCW) from group of shareholders for £4.2 million on November 24, 2025. A cash consideration of £4.23 million valued at £0.14 per share will be paid by PhillipCapital UK Ltd. As part of consideration, £4.23 million is paid towards common equity of Walker Crips Group plc. Prior to the Effective Date, it is intended that an application will be made to the FCA to cancel the listing of the Walker Crips Shares on the Official List and to the London Stock Exchange to cancel the trading of Walker Crips Shares on the Main Market, in each case with effect from or shortly following the Effective Date.
The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders, Third party approval and court approval. The expected completion of the transaction is January 1, 2026 to March 31, 2026. As of January 15, 2026, Walker Crips Group plc shareholder approved the deal. As of February 3, 2026, all Conditions relating to the receipt of FCA regulatory approval have been satisfied. on February 27, 2026, The High Court of Justice in England and Wales sanctioned the Scheme.
The expected completion of the transaction is on March 3, 2026.
Henrik Persson, Marc Milmo, Fergus Sullivan of ElysiaBough of Cavendish Capital Markets Limited acted as financial advisor for PhillipCapital UK Ltd. Adam Hastings, Louise Pritchard, Paul Anderson of Addleshaw Goddard LLP acted as legal advisor for PhillipCapital UK Ltd. DWF Law LLP acted as legal advisor for Walker Crips Group plc. Charles Leigh-Pemberton, Asha Chotai and Oliver Platts of Singer Capital Markets Advisory LLP acted as financial advisor for Walker Crips Group plc.
PhillipCapital UK Ltd completed the acquisition of 70.97% stake in Walker Crips Group plc (LSE:WCW) from group of shareholders on March 3, 2026. On completion, Walker Crips is now a wholly owned subsidiary of PhillipCapital. Trading in Walker Crips Shares on the London Stock Exchange and Official List of the FCA was suspended with effect from March 3, 2026. As the Scheme has now become Effective, Walker Crips duly announces that, Mark Nelligan has resigned as a director and from the Walker Crips Board. Reported Earnings • Jan 03
First half 2026 earnings released: UK£0.15 loss per share (vs UK£0.026 loss in 1H 2025) First half 2026 results: UK£0.15 loss per share (further deteriorated from UK£0.026 loss in 1H 2025). Revenue: UK£14.4m (down 8.4% from 1H 2025). Net loss: UK£6.32m (loss widened 481% from 1H 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. New Risk • Jan 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£5.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£5.7m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 77% per year over the past 5 years. Market cap is less than US$10m (UK£5.64m market cap, or US$7.60m). Announcement • Nov 24
PhillipCapital UK Ltd entered into agreement to acquire 70.97% stake in Walker Crips Group plc (LSE:WCW) from group of shareholders for £4.2 million. PhillipCapital UK Ltd entered into agreement to acquire 70.97% stake in Walker Crips Group plc (LSE:WCW) from group of shareholders for £4.2 million on November 24, 2025. A cash consideration of £4.23 million valued at £0.14 per share will be paid by PhillipCapital UK Ltd. As part of consideration, £4.23 million is paid towards common equity of Walker Crips Group plc.
The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders, Third party approval and court approval. The expected completion of the transaction is January 1, 2026 to March 31, 2026.
Henrik Persson, Marc Milmo, Fergus Sullivan of ElysiaBough of Cavendish Capital Markets Limited acted as financial advisor for PhillipCapital UK Ltd. Addleshaw Goddard LLP acted as legal advisor for PhillipCapital UK Ltd. DWF Law LLP acted as legal advisor for Walker Crips Group plc. Charles Leigh-Pemberton, Asha Chotai and Oliver Platts of Singer Capital Markets Advisory LLP acted as financial advisor for Walker Crips Group plc. Announcement • Sep 09
Walker Crips Group plc, Annual General Meeting, Sep 29, 2025 Walker Crips Group plc, Annual General Meeting, Sep 29, 2025. Location: the registered office of the company, 128 queen victoria street, ec4v 4bj, london United Kingdom Reported Earnings • Sep 08
Full year 2025 earnings released: UK£0.059 loss per share (vs UK£0.009 profit in FY 2024) Full year 2025 results: UK£0.059 loss per share (down from UK£0.009 profit in FY 2024). Revenue: UK£31.2m (flat on FY 2024). Net loss: UK£2.53m (down UK£2.90m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 03
Full year 2025 earnings released: UK£0.059 loss per share (vs UK£0.009 profit in FY 2024) Full year 2025 results: UK£0.059 loss per share (down from UK£0.009 profit in FY 2024). Revenue: UK£31.2m (flat on FY 2024). Net loss: UK£2.53m (down UK£2.90m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • Aug 01
Walker Crips Group plc Proposes Final Dividends for the Year Ended 31 March 2025 Walker Crips Group plc proposed final dividends of £nil pence per share for the year ended 31 March 2025 (2024: 0.25 pence per share), bringing the total dividends for the year to £nil pence per share (2024: 0.50 pence per share). New Risk • Jul 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Market cap is less than US$10m (UK£5.11m market cap, or US$6.82m). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Share price has been volatile over the past 3 months (8.4% average weekly change). New Risk • Jul 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Market cap is less than US$10m (UK£5.96m market cap, or US$8.02m). Minor Risk Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Announcement • Apr 01
Walker Crips Group plc Announces Board Changes Walker Crips Group plc announced that Jo Welman has joined the Company as Non-Executive Chairman and Board Director, taking over from Martin Wright who is stepping down as a Director, effective on 30 April 2025. Jo began his career at Baring Asset Management, where he spent ten years managing substantial UK and US pension scheme assets and authorised equity unit trusts. In 1989, he was appointed Chief Executive of Rea Brothers Investment Management, then the loss-making investment management subsidiary of Rea Brothers, a merchant bank. Under his leadership, the business was successfully transformed, with its High Net Worth and specialist fund franchises representing approximately 30% of the banking group's profits by the time of its acquisition by Close Brothers Group plc in 1997. Jo stepped down from the board of Close Brothers to assume the Chairmanship of Brit Insurance Holdings plc ("Brit"), a company he co-founded in 1995. In 2001, in partnership with Brit, he established Epic Investment Partners, an innovative specialist fund and fixed income asset manager, which was later acquired by AIM-listed Syndicate Asset Management. In addition, Jo is a non-executive director of Ark Syndicate Management, the successful Lloyd's of London and Bermudan underwriter. Announcement • Feb 08
Walker Crips Group plc Announces Directorate Changes Walker Crips Group plc announced that David Gelber has given notice of his resignation as a Non-executive Director of the Company. He will stand down from the Board of the Company on 28 February 2025. The Board appointed Linus Lim as Non-Executive Director of the Company. Linus is Chief Executive of Phillip Capital Management, a fund management company that has launched award winning ETFs and Unit Trusts across Asia. Linus has been with Phillip Capital since 2001 where he has been involved in equity research as well as corporate finance both in Singapore and in the UK. Linus is a graduate of the London School of Economics and holds an MBA from the Anderson School of Management at UCLA and is also a CAIA charter holder, IMC from CFA UK, and FSA Credential holder. Reported Earnings • Dec 28
First half 2025 earnings released: UK£0.026 loss per share (vs UK£0.005 profit in 1H 2024) First half 2025 results: UK£0.026 loss per share (down from UK£0.005 profit in 1H 2024). Revenue: UK£15.8m (up 2.6% from 1H 2024). Net loss: UK£1.09m (down UK£1.29m from profit in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. New Risk • Oct 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.24m (US$9.46m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.0% per year over the past 5 years. Market cap is less than US$10m (UK£7.24m market cap, or US$9.46m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Sep 29
Walker Crips Group plc Declares Final Dividend for the Year Ended 31 March 2024 Walker Crips Group plc declared a final dividend of 0.25 pence per Ordinary Share for the year ended 31 March 2024. Announcement • Sep 06
Walker Crips Group plc, Annual General Meeting, Sep 27, 2024 Walker Crips Group plc, Annual General Meeting, Sep 27, 2024. Location: the registered office of the company, old change house, 128 queen victoria street, ec4v 4bj, london United Kingdom Declared Dividend • Aug 02
Final dividend of UK£0.0025 announced Dividend of UK£0.0025 is the same as last year. Ex-date: 19th September 2024 Payment date: 4th October 2024 Dividend yield will be 2.5%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 2.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 02
Full year 2024 earnings released: EPS: UK£0.009 (vs UK£0.01 in FY 2023) Full year 2024 results: EPS: UK£0.009 (down from UK£0.01 in FY 2023). Revenue: UK£31.5m (flat on FY 2023). Net income: UK£368.0k (down 12% from FY 2023). Profit margin: 1.2% (down from 1.3% in FY 2023). Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. New Risk • Jul 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (UK£9.37m market cap, or US$12.2m). Announcement • Jun 15
Clive Bouch to Resign as Non-Executive Director of Walker Crips Group, Effective 26 June 2024 Walker Crips Group plc announced that Clive Bouch has given notice of his resignation as a Non-executive Director of the Company. He will stand down from the Board and relinquish his role as Senior Independent Director of the Company on 26 June 2024. The Board is in discussions to appoint two new Independent Non-executive Directors and will provide further updates in due course. Clive will continue to make himself available to the Company to assist in the succession and transition plans. New Risk • Feb 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (UK£9.58m market cap, or US$12.1m). Reported Earnings • Jan 02
First half 2024 earnings released: EPS: UK£0.005 (vs UK£0.002 in 1H 2023) First half 2024 results: EPS: UK£0.005 (up from UK£0.002 in 1H 2023). Revenue: UK£15.4m (down 4.1% from 1H 2023). Net income: UK£201.0k (up 151% from 1H 2023). Profit margin: 1.3% (up from 0.5% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Dec 28
Walker Crips Group plc Declares Interim Dividend, Payable on 26 January 2024 The Board of Walker Crips Group plc has declared an interim dividend of 0.25 pence per share (2022: 0.25 pence per share), which will be paid on 26 January 2024 to shareholders on the register on 12 January 2024. The ex-dividend date will be 11 January 2024. Announcement • Sep 28
Walker Crips Group plc Approves a Final Dividend for the Year Ended 31 March 2023 Walker Crips Group plc at its AGM held on 27 September 2023, approved a final dividend of 0.25 pence per ordinary share for the year ended 31 March 2023. Reported Earnings • Aug 01
Full year 2023 earnings released: EPS: UK£0.01 (vs UK£0.004 in FY 2022) Full year 2023 results: EPS: UK£0.01 (up from UK£0.004 in FY 2022). Revenue: UK£31.5m (down 3.6% from FY 2022). Net income: UK£418.0k (up 142% from FY 2022). Profit margin: 1.3% (up from 0.5% in FY 2022). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Aug 01
Walker Crips Group plc Recommends Final Dividend, Payable on October 6, 2023 Walker Crips Group plc’s Board recommended a final dividend of 0.25 pence per share to be paid on 6 October 2023 for those members on the shareholders' register on 22 September 2023, the ex-dividend date being 21 September 2023. Including the interim dividend of 0.25 pence per share (2022: 0.30 pence per share), the total dividend paid and proposed in respect of the year is 0.50 pence per share (2022: 1.50 pence per share). New Risk • Jun 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 39% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Dividend is not well covered by earnings (251% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (UK£11.1m market cap, or US$14.1m). Reported Earnings • Dec 26
First half 2023 earnings released: EPS: UK£0.003 (vs UK£0.001 in 1H 2022) First half 2023 results: EPS: UK£0.003 (up from UK£0.001 in 1H 2022). Revenue: UK£16.0m (up 2.5% from 1H 2022). Net income: UK£117.0k (up 166% from 1H 2022). Profit margin: 0.7% (up from 0.3% in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Group Finance Director & Executive Director Sanath Dandeniya was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Group Finance Director & Executive Director Sanath Dandeniya was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Group Finance Director & Executive Director Sanath Dandeniya was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 15
Upcoming dividend of UK£0.012 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 07 October 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.0%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (3.4%). Reported Earnings • Sep 09
Full year 2022 earnings released: EPS: UK£0.004 (vs UK£0.006 loss in FY 2021) Full year 2022 results: EPS: UK£0.004 (up from UK£0.006 loss in FY 2021). Revenue: UK£32.7m (up 8.3% from FY 2021). Net income: UK£173.0k (up UK£431.0k from FY 2021). Profit margin: 0.5% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Jul 31
Full year 2022 earnings released: EPS: UK£0.004 (vs UK£0.006 loss in FY 2021) Full year 2022 results: EPS: UK£0.004 (up from UK£0.006 loss in FY 2021). Revenue: UK£32.7m (up 8.3% from FY 2021). Net income: UK£173.0k (up UK£431.0k from FY 2021). Profit margin: 0.5% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jul 30
Walker Crips Group plc Recommends Final Dividend, Payable on October 7, 2022 Walker Crips Group plc recommended final dividend of 1.20 pence per share to be paid on October 7, 2022 for those members on the shareholders' register on September 23, 2022. The ex-dividend date of 22 September 2022. Including the interim dividend of 0.30 pence per share (2021: 0.15 pence per share), the total dividend for the year is 1.50 pence per share (2021: 0.75 pence per share). Reported Earnings • Dec 19
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: UK£0.001 (up from UK£0.009 loss in 1H 2021). Revenue: UK£15.6m (up 9.5% from 1H 2021). Net income: UK£44.0k (up UK£410.0k from 1H 2021). Profit margin: 0.3% (up from net loss in 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 21
Full year 2021 earnings released: UK£0.006 loss per share (vs UK£0.017 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: UK£30.2m (down 3.3% from FY 2020). Net loss: UK£258.0k (down 136% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 27
New 90-day high: UK£0.27 The company is up 2.0% from its price of UK£0.27 on 29 October 2020. The British market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 19% over the same period. Reported Earnings • Nov 29
First half 2021 earnings released: UK£0.009 loss per share The company reported a poor first half result with weaker earnings, revenues and control over expenses. First half 2021 results: Revenue: UK£14.3m (down 7.9% from 1H 2020). Net loss: UK£366.0k (down 173% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.