REG - Wilmington PLC - Trading Update

WilmingtonAnnouncement

27/01/2022 07:00

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RNS Number : 7774Z  Wilmington PLC  27 January 2022

27 January 2022

Wilmington plc

 

Trading Update

 

Wilmington plc, (LSE: WIL, 'Wilmington' or 'the Group') the provider of data,
information, education and training services in the global Governance, Risk
and Compliance (GRC) markets, today announces an update on trading for the
first half of the current financial year and an increase in expected profits
for the full year to 30 June 2022.

 

Wilmington ended the first half of the current financial year ahead of
expectations for revenue, adjusted PBT(1) and net cash/debt.  The Group
achieved double-digit organic(2) revenue growth and adjusted PBT(1)
significantly up on the same period last year.

 

Net cash (excluding lease liabilities) was £11.0m with strong trading being
augmented by the sale of the AMT Training business in December for £23.4m.
All bank debt has been repaid.

 

Both divisions traded well in the first half with events revenues returning to
pre-pandemic levels.  Strong first half trading and the return to
face-to-face events means that profit for the financial year is expected to be
comfortably ahead of expectations.

 

If, as currently expected, events are able to run face-to-face for the rest of
the financial year, further improvements in full year profits are also likely.

 

Wilmington will be publishing its full results for the six months to 31
December 2021 on Monday 21 February 2022.

 

Mark Milner, Chief Executive Officer, commented:

"Our divisions and teams are performing strongly.  The resilient nature of
our digital business delivery, the return of face-to-face events and our
investment in new products and capabilities means we now expect profits to be
materially higher this financial year."

(1) Adjusted profit before tax (PBT) is calculated as PBT after adding back
amortisation of intangible assets excluding computer software and
profits/losses on disposals and business closures.

(2) Organic - eliminating the effects of exchange rate fluctuations and the
impact of acquisitions and disposals

 

 For further information:

 Wilmington plc                          020 7490 0049

 Mark Milner, Chief Executive Officer

 Guy Millward, Chief Financial Officer

 Meare Consulting                        07990 858548

 Adrian Duffield

 

 

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 close to 1,000 people and sells
to around 120 countries. Wilmington is listed on the main market of the London
Stock Exchange.

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