23rd Jul 2025 10:03
(Alliance News) - Wilmington PLC on Wednesday said recent acquisitions are performing well, but annual revenue was held back by disruption in the US healthcare market.
The London-based publishing firm provides information and training, specialising in compliance, legal and healthcare publications.
Revenue growth from the group's ongoing businesses is estimated to be 11% in the financial year that ended June 30, led by both recent acquisitions in the HSE sector delivering double-digit percentage growth.
Similar to at the half-year stage, seven out of nine businesses grew in the full year, Wilmington said.
But the firm cautioned that continuing disruption in the US healthcare insurance market hurt the US events business all last year.
As a result, reported revenue is estimated to be GBP101.5 million in financial 2025, down 19% from GBP126 million the year prior, with organic revenue down 1% due to the US.
Operating profit from ongoing businesses was up 11%. Adjusted pretax profit was GBP27.7 million, up slightly from GBP27.6 million in financial 2024, with adjusted pretax profit margin rising to 27% from 22%.
Chief Executive Mark Milner said the results reflect a focus on a "slimmed down higher quality portfolio of growing businesses".
Milner noted margins have continued to improve and both recent acquisitions have seen double digit growth.
Last October, Wilmington bought Phoenix Health & Safety for an initial GBP30.3 million. In 2023, the company acquired Astutis, to expands the group's position in the growing HSE training market.
"This performance came against a tough macro backdrop, particularly in the US healthcare market which has seen continued disruption in the course of our H2," Milner added.
Net cash at June 30 was GBP41.9 million, down from GBP67.8 million a year before, after the completion of the acquisition of Phoenix and the GBP3.4 million share buyback.
Wilmington expects to publish its full annual results on September 22.
Shares in Wilmington were down 3.1% to 310.00 pence in London on Wednesday morning.
By Jeremy Cutler, Alliance News reporter
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