5th Nov 2015 10:23
LONDON (Alliance News) - Wilmington PLC on Thursday said it has made a positive start to its new financial year, with revenue up 8% during the three months to September 30 and "good" profit growth, and the company said it is on track to deliver against expectations for the full year to June 2016.
Wilmington has four divisions. Risk & Compliance provides regulatory and compliance accredited training and information, market intelligence and analysis, while the Finance arm includes training and support services to professionals in corporate finance and capital markets.
The Legal division provides training, professional support services and information to legal professionals, while the Insight division includes Wilmington's UK healthcare information unit and French language medical news agency, among other businesses.
In an update for the three months to September 30, Wilmington said the business overall is performing well and in line with expectations, with good growth from the Finance division in particular. However, that growth was to some extent offset by a decline in revenue in the Legal division and a "mixed start" for the Insight arm.
More positively, the Risk & Compliance division "continues to grow" despite a strong period in the prior year, the company said.
There was growth in reported operating profits and operating margins in the three months to September 30, Wilmington said.
"The overall trading outlook has not changed since the full year 2015 results announcement. We continue to see the trends of tighter regulatory control and more complex legislation being implemented in most of our key markets, which in turn is driving demand for many of our products and services," Wilmington said.
"We have also invested in our compliance business which is providing the infrastructure and support for anticipated future growth. Overall, the financial performance is in line with the board's expectations and Wilmington is on track to deliver against expectations for the full year," the company added.
Shares in Wilmington were up 0.6% at 268.00 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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