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24 Jul 2024 07:00
24 July 2024
Wilmington plc
Year-end trading update
Wilmington plc, (LSE: WIL, 'Wilmington', 'the Group') the provider of data, information, education and training in the global Governance, Risk and Compliance ('GRC') markets, today provides a trading update for the year ended 30 June 2024.
Group organic revenue growth is expected to be 9%, with reported revenues in the order of £126.0m (2023: £123.5m).
Adjusted* profit before tax (unaudited) is expected to be £27.6m (2023: £24.3m), up 13% on last year.
Cash conversion continued to be strong with Group net cash on 30 June 2024 at £67.8m (30 June 2023: £42.2m) after the completion of the sale of the MiExact and the Healthcare businesses and the acquisition of Astutis during the year.
Wilmington expects to publish its year end results on 16 September 2024.
Mark Milner, Chief Executive Officer, commented:
"We have seen another year of strong organic revenue and profit growth with revenues up 9% and profits up some 13%, reflecting our focus on a slimmed down higher quality portfolio of growing businesses around the world. Margins have also continued to improve strongly.
"With two disposals and one acquisition, we have continued to actively manage our portfolio of businesses and are pursuing various opportunities to invest our cash in acquisitions to improve our growth and profitability. We have also started to transfer our businesses onto our single operating platform, which will enable us to continue to improve our performance."
*Adjusted profit before tax (PBT) is calculated as PBT after adding back amortisation and impairment of intangible assets (except computer software) and profits/losses on disposals and business closures. Market consensus Adjusted profit before tax is £27.3m.
For further information, please contact:
Wilmington plc Mark Milner, Chief Executive Officer Guy Millward, Chief Financial Officer
Meare Consulting Adrian Duffield |
020 7490 0049
07990 858548 |
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement this inside information is now considered to be in the public domain.
Notes to Editors
Wilmington plc is the recognised knowledge leader and partner of choice for data, information, education and training in the global Governance, Risk and Compliance (GRC) markets. Wilmington employs around 600 people and sells to around 120 countries. Wilmington is listed on the main market of the London Stock Exchange.
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