15th Sep 2015 07:11
LONDON (Alliance News) - Wilmington PLC Tuesday said it is on track to meet its expectations for its current financial year, which has started well, as it reported a rise in pretax profit for its recently ended financial year.
Wilmington provides regulatory and compliance information services for the legal and financial services sectors.
It proposed a final dividend of 4.0 pence, taking its total dividend for the year to 7.7 pence, increased from 7.3 pence a year before.
Wilmington proposed a pretax profit of GBP10.3 million for the year to end-June, up from GBP8.6 million in the previous year, as revenue rose to GBP95.1 million from GBP90.0 million. The company highlighted continued strong growth from its largest and highest margin division Risk and Compliance, and growth from its Finance division.
Its Insight division "performed satisfactorily", Wilmington said, although it noted this division had been hit by currency movements, and its Legal division continued to see revenue decline due to challenging trading conditions.
"Trading in the new financial year has started well, in line with the board's expectations and tighter regulatory control and more complex legislation in our key markets is driving demand for our products and services globally," said Chairman Mark Asplin in a statement.
"We enter the year ahead with solid market positions and will continue to invest across the business to deliver significant organic revenue growth, supplemented by selective earnings enhancing acquisitions consistent with our strategic objectives. We remain on track to meet current expectations for the year," Asplin said.
Shares in Wilmington were untraded Tuesday morning. It last closed at 267.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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