Wilmington PLC - London-based provider of information and training for governance and risk & compliance - Expects revenue for the year ended June 30 to be GBP121.0 million, up from GBP113.0 million the previous year, as a result of strong events revenue in the US during the second half of the year. Adjusted pretax profit anticipated ahead of expectations at GBP20.7 million and up from GBP15.0 million the previous year. Adds both divisions recorded double-digit organic revenue growth and improved profitability.
"A combination of good organic revenue growth, tight control of overheads and a targeted reduction in lower margin business has resulted in this strong performance. We have also continued to see solid growth in our underlying recurring revenues, reflecting the resilience of the business overall," says Chief Executive Mark Milner.
Wilmington expects to publish its full-year results on September 22.
Current stock price: 271.20 pence, up 4.3% on Wednesday in London
12-month change: up 24%
By Heather Rydings; heatherrydings@alliancenews.com
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Wilmington (WIL)