WH Ireland warns highs costs may dent figures

WH Ireland on Wednesday warned that higher than expected costs and "challenging" market conditions were likely to affect its results for the year ended 31 March.

The increased number of one-off costs was attributed to the wealth management and corporate broking company's transformation strategy, while there was said to be a "strong pipeline of new business" that makes the board optimistic for the future.

The AIM-listed company also announced the appointment of former BGC Partners managing director Philip Tansey as finance director, while Jonathan Carey to step down from his role as a non-executive director of the board when an appropriate replacement can be found.

Tansey's appointment, having joined as head of finance in December, is subject to FCA approval.

Phillip Wale, only recently appointed chief executive himself, was, as is usual in these circumstances, "delighted".

"Philip brings a wealth of experience that will be valuable to WH Ireland as we continue on the path towards growth and profitability. At the same time, the board thanks Jonathan Carey for his excellent contribution to the company and wishes him well for the future," he said.

WH Ireland's shares were unchanged at 72.00p at 0838 GMT.