1st Nov 2018 12:02
LONDON (Alliance News) - Wilmington PLC said Thursday its trading in the first quarter has been "reasonable" despite what is typically the publishing company's quietest period.
The publishing company said its revenue is down 1% in the quarter compared to a year before.
The Risk & Compliance division increased its revenue 7% year-on-year in the first quarter, with good momentum from its Compliance segment as a result of accelerated revenue from the second quarter, the company said.
Wilmington's Healthcare division saw its revenue drop 7% in the first quarter reflecting a reduction in deferred revenue as well as the decision to reduce US networking events to focus on "improving profitability".
The UK Healthcare segment saw a 2% rise in new business sales.
Wilmington does not anticipate a change in its trading outlook for financial year 2019 from its guidance offered with its financial year 2018 results in September.
In September, Wilmington guided for revenue growth in 2019 in the "low single-digit percentage" range. The company expects every division to grow revenue, with costs rising too.
For the twelve months ended June 2018, the publishing company posted pretax profit of GBP3.0 million on revenue of GBP122.1 million.
"The overall outcome from the divisional revenue and sales performance in the first quarter gives some early encouragement that momentum across the group is starting to shift as required to achieve full year revenue and profit expectations," said Wilmington.
The company said: "Whilst uncertainties remain within the macro economic environment, the changes in regulations that will come into force in the UK as a result of Brexit are likely to lead to new business opportunities in the second half of the year which will help to underpin our growth plans."
Shares in Wilmington were up 1.0% Thursday at 172.20 pence each.
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