5th Nov 2013 12:49
LONDON (Alliance News) - Wilmington Group PLC Tuesday said its first quarter revenue was marginally higher than in the same period in 2012, as expected, with revenues from acquisitions offset by planned disposals and discontinued marginal activities.
Wilmington, which has made a number of acquisitions this year, including Compliance Week, an information service on corporate governance, risk and compliance that features weekly electronic newsletters and a monthly print magazine, said, as anticipated, its Business Intelligence and Legal divisions have seen declining revenues, while its Accountancy division has seen "some constraint to revenue".
The company engaged in training and events, publishing and information said its Pensions & Insurance division has continued to deliver strong revenue growth, with high margins being maintained.
"At the end of the first quarter the financial performance is on track to support our expectations for the full year. July and August are typically the quietest trading months for most of the Group's businesses, the exception is AMT which delivers a significant proportion of its annual profit contribution during the first quarter. The overall trading background has not changed significantly since the full year 2013 results announcement except Legal which has had a poor end to the Legal CPD year," Wilmington said in a statement.
Wilmington said it continues to invest in new technology and product development in order to achieve the returns it expects from its recent acquisitions.
Wilmington shares were Tuesday quoted at 220.00 pence, up 0.5%.
By Samuel Agini; [email protected]; @samuelagini
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