Wilmington Group Plc
14 July 2003
For Immediate Release Monday 14th July 2003
WILMINGTON GROUP PLC
PRE-CLOSE PERIOD STATEMENT
Wilmington Group plc ('Wilmington' or the 'Group') today announces its pre-close
period statement in respect of the year ended 30th June 2003.
Trading results for the year ended 30th June 2003 are expected to be ahead of
market expectations.
Despite a business environment that remains challenging, the Group has moved
forward on many fronts. These include the successful restructuring of senior
management in the magazine publishing division; the integration of recent
acquisitions; the disposal of certain under performing assets and, not least, an
excellent performance from a number of the Group's business units. The Group
has taken action to reduce its cost base by over £800,000, the impact of which
should be seen during the year ending 30th June 2004.
Business Information
The business information division, which creates and sells value added
information products to professional markets, is expected to show continued
strong performance with increased profits in the year ended 30th June 2003
compared with the previous year.
Magazine Publishing
The business to business magazine publishing division, which derives the
majority of its revenue from advertising, is operating in a market that remains
difficult for publishers. Nevertheless this division is expected to deliver a
modest overall profit for the year ended 30th June 2003.
Professional Training
The professional training business continued to perform well and to achieve good
margins. Profits are expected to be at the top end of market expectations, with
the prospect of further returns through continued investment in new initiatives
and products.
Summary
Wilmington continues to operate in a difficult economic environment. However,
the Group has focussed successfully on driving forward returns from its strong
assets whilst taking prompt remedial action where necessary. This approach has
translated into results that are expected to be ahead of current market
expectations.
It is anticipated that Wilmington will announce its preliminary results for the
year ended 30th June 2003 on Monday 15th September 2003.
For further information, please call:
Charles Brady On the day: 020 7466 5000
Chief Executive, Wilmington Thereafter: 0121 355 0900
Bobby Morse/James Strong Tel: 020 7466 5000
Buchanan Communications
This information is provided by RNS
The company news service from the London Stock Exchange
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