Wilmington delivers overall positive financial performance
Wilmington plc’s Chief Executive Officer Pedro Ros (pictured), speaking at the company’s full-year results presentation in London, said: “We have made excellent strides reorganising, investing and refocusing the business.”
Revenues for the twelve months ended 30 June 2016 were up 11% to £105.7m, with international revenues accounting for 42% of the total, while Adjusted Profit before Tax, at £20.9m, increased by 13%. The directors propose an increase in final dividend to 4.3p, bringing total dividends for the year to 8.1p (up 5.2%).
Pedro highlighted strong organic growth from Wilmington’s Risk & Compliance division, driven by demand for compliance offerings, and a 13% increase in revenue from the Finance division, where Wilmington FRA Inc., in its first year since acquisition, contributed £2.1m to the divisional total. There was, he added, strong growth from the Insight division, with overall revenue up 27%, driven by acquisitions in healthcare.
Chairman Mark Asplin commented:
“This year has seen Wilmington deliver a positive financial performance overall. Our strategy and vision have been successfully implemented, creating a more compelling offering through a knowledge-based business structure and customer offering. This offering continues to meet customer demand in products and services and in international territories positioning us well for continued profitable growth.”
Pedro reported that the three acquisitions made during the year – FRA, Wellards and Evantage – all performed strongly, and noted the July 2016 acquisition of SWAT Group Limited, extending the company’s presence in the training and technical compliance support market. The directors, he said, seek to make further “selective earnings-enhancing acquisitions consistent with our strategic objectives.”
Recognising the importance of Wilmington’s professional customer base, Pedro commented:
“Clients and communities remain at the centre of everything we do and we are working ever-more efficiently as a unified business. In the year ahead, as we focus on full implementation of our strategy, we will continue to invest in our back office, technology, content and resources platform as well as strengthen our international hubs with the addition of new talent.”
This article is extracted from the full year results for the twelve months ended 30 June 2016 issued by Wilmington plc and presented on the 14 September 2016. Readers are advised to refer to the full text here.
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