REG - Wilmington PLC - Trading Statement

WilmingtonAnnouncement

24/07/2024 07:00

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RNS Number : 5241X  Wilmington PLC  24 July 2024

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.

 

 For further information, please contact:

 Wilmington plc                            020 7490 0049

 Mark Milner, Chief Executive Officer

 Guy Millward, Chief Financial Officer

 Meare Consulting                          07990 858548

 Adrian Duffield

 

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.

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