(Alliance News) - Wilmington PLC on Monday announced a higher interim dividend but its interim profit fell on lower income from selling subsidiaries.
The London-based provider of information and training for governance and risk & compliance said pretax profit in the six months to December 31 fell to GBP10.0 million from GBP25.1 million a year prior. Revenue decreased to GBP57.4 million from GBP58.9 million. Gain on disposal of subsidiaries fell to GBP2.2 million from GBP16.1 million.
Wilmington explained that at the end of 2022 it sold its Spanish insurance business Inese for net proceeds of GBP2.6 million, with a gain of GBP2.2 million, while at the end of 2021 it sold its financial trading business AMT for GBP23.4 million with a gain of GBP16.1 million.
The company declared a dividend of 2.70 pence per share, up 13% from 2.40p a year prior.
Looking ahead, Wilmington said trading is currently in line with expectations.
Chief Executive Officer Mark Milner said: "Whilst we are mindful of current economic uncertainties, we have a strong contracted order book which underpins our confidence for the second half."
Wilmington shares were 7.2% higher at 343.00 pence each in London on Monday afternoon.
By Tom Budszus, Alliance News reporter
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Wilmington (WIL)