24 July 2024
Wilmington
plc
Year-end trading
update
Wilmington plc, (LSE: WIL,
'Wilmington', 'the Group') the provider of data, information,
education and training in the global Governance, Risk and
Compliance ('GRC') markets, today provides a trading update for the
year ended 30 June 2024.
Group organic revenue growth is
expected to be 9%, with reported revenues in the order of £126.0m
(2023: £123.5m).
Adjusted* profit before tax
(unaudited) is expected to be £27.6m (2023: £24.3m), up 13% on last
year.
Cash conversion continued to be
strong with Group net cash on 30 June 2024 at £67.8m (30 June 2023:
£42.2m) after the completion of the sale of the MiExact and the
Healthcare businesses and the acquisition of Astutis during the
year.
Wilmington expects to publish its
year end results on 16 September 2024.
Mark Milner, Chief Executive Officer,
commented:
"We have seen another year of
strong organic revenue and profit growth with revenues up 9% and
profits up some 13%, reflecting our focus on a slimmed down higher
quality portfolio of growing businesses around the world. Margins
have also continued to improve strongly.
"With two disposals and one
acquisition, we have continued to actively manage our portfolio of
businesses and are pursuing various opportunities to invest our
cash in acquisitions to improve our growth and profitability.
We have also started to transfer our businesses onto our single
operating platform, which will enable us to continue to improve our
performance."
*Adjusted profit before tax (PBT) is calculated as PBT after
adding back amortisation and impairment of intangible assets
(except computer software) and profits/losses on disposals and
business closures. Market consensus Adjusted profit before tax is
£27.3m.
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For further information, please
contact:
Wilmington plc
Mark Milner, Chief Executive
Officer
Guy Millward, Chief Financial
Officer
Meare Consulting
Adrian Duffield
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020
7490 0049
07990 858548
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The information contained within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement this inside information is now considered to be in the
public domain.
Notes to Editors
Wilmington plc is the recognised
knowledge leader and partner of choice for data, information,
education and training in the global
Governance, Risk and Compliance (GRC) markets. Wilmington employs around 600 people and sells to around 120
countries. Wilmington is listed on the main market of the London
Stock Exchange.