Another very encouraging half for Wilmington
Speaking in London on 24 February, Chief Executive Officer Pedro Ros described Wilmington plc’s results for the six months ended 31 December 2015 as “very encouraging”. Overall revenues, up 7% at £49.4 million, drove Adjusted Profit Before Tax to £8.9 million, a 10% increase.
Presenting with Chief Financial Officer Tony Foye, Pedro highlighted the consistent implementation of Wilmington’s strategy as a major factor in the company’s success. Adopting a knowledge-based business model with three complementary delivery channels had driven strategic acquisition activity, and the company is now positioned to offer information, education and networking products and services in all its key knowledge areas.
Both the Risk & Compliance division (revenue +5%) and the Finance division (+16%) reported good growth, with higher quality earnings resulting from good uptake on public courses and online compliance training, together with increased demand for specialist financial training. Axco, an industry leader in the insurance market-intelligence sector, grew revenue by 6%, reflecting the continued success of new information products.
While the Legal division reported a revenue decline of 3%, this offset a good performance in the Law for Non-Lawyers area. Sustained demand for Bond Solon’s witness-training courses presents opportunities to expand into other international territories. In the Law for Lawyers area, Pedro confirmed that Wilmington continues “to rationalise its offer around its key community of lawyers and law firms.”
The Insight division reported 10% revenue growth; the healthcare sector, which delivers two-thirds of divisional revenue, was boosted by increased demand for Healthcare Analytics, where clients expect increasingly sophisticated analysis rather than pure data. In North America, FRA’s flagship event, the RISE Nashville Summit in March, has attracted record numbers of delegates and sponsors.
The acquisitions of FRA and Wellards consolidate Wilmington’s capability, giving information, education and networking capabilities across all four divisions. Clients remain at the centre of the company’s strategy, and Wilmington is ready to take the next steps in exceeding expectations.
Individual clients are grouped in communities with shared interests and objectives; Wilmington has built extensive and influential communities in compliance, healthcare, finance, legal, accounting and insurance. Managing these communities, engaging with them and monetising the resulting relationships is the underlying priority.
Looking forward, individual businesses can maximise the opportunity available to them by adopting the characteristics that make up a successful Wilmington company:
- A clear focus on clients in expanding markets, where there is high growth potential.
- A desire to use technology to gain advantage, moving the goalposts beyond the competition.
- A drive towards strong brand identities, making businesses more attractive to clients and potential employees.
- An aim of building truly international reputations, enabling companies to be recognised by clients around the globe.
Each of these characteristics contributes to a stronger, more integrated Wilmington. The company is evolving into ‘One Wilmington’, an organisation with the potential to make the most of every opportunity. Factors that include shared values, moves to local hubs around the world and increasingly widespread collaboration between businesses all add to the growing momentum.
Wilmington’s vision - Turning Knowledge into Advantage – has become reality, enabling clients to transform their businesses.
The Wilmington Hub also has a dedicated investor section.
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