6th May 2015 09:08
LONDON (Alliance News) - Wilmington PLC on Wednesday said its revenue grew year-on-year in the first nine months of its financial year, with growth across all divisions except for its legal arm, which was hit by ongoing structural changes in the business.
Wilmington, which provides risk and compliance, finance, legal and insight services, said revenue in the nine months to the end of March was up 7% year-on-year, in line with the performance of the company in the first half of its financial year.
The group saw revenue grow across its operating divisions, except for a 5% fall in revenue in its legal business, which reflected the scaling back of course programmes. Margins and profit in the division was in line year-on-year, however, due to cost cuts made in the unit.
Risk and compliance division revenue grew in the nine-months, boosted by robust demand in its compliance business for face-to-face training, while revenue in its finance arm was higher on the back of in-house training contracts secured and a robust pipeline of work.
The group said it is on track to meet full-year expectations and said demand for its training and compliance services is still being driven by the trend of tighter regulatory control in many of its key markets.
By Sam Unsted; [email protected]; @SamUAtAlliance
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