Pre-Close trading update

RNS Number : 7435Y

Wilmington Group Plc

10 July 2008

 



For immediate release                                                                                                 10th July 2008

WILMINGTON GROUP PLC

PRE-CLOSE PERIOD STATEMENT

Wilmington Group plc ('Wilmington' or the 'Group'), the professional information and training group, today issues its pre-close period statement in respect of the year to 30 June 2008.

Trading performance for the year to 30 June 2008 is anticipated to be in line with the Board's expectations and, reinforced by acquisitions, significantly ahead of the year to 30 June 2007. This reflects the continued success of our strategy of focussing on key professional business markets where we can develop a range of complementary information and training activities, organically and by acquisition.

We anticipate that strong growth in both turnover and profits has been achieved by our Legal and Regulatory Division where excellent progress has been made. The Division's performance is after expensing the costs of a range of new product launches and initiatives, including the development of the compliance training programme in Singapore. The recent acquisitions of the Mercia Group, Practice Track, The Matchett Group, APIS and Aspire are expected to meet expectations and contribute to the growth in turnover and profitability.  

The Wilmington Business Information Division has successfully managed the sale in August 2007 of Wilmington Media and Dewberry Boyes and the subsequent restructuring of its cost base. Its health and pharmaceutical businesses are anticipated to show strong growth in turnover and profits. However, the media and entertainment businesses, our smallest market grouping, have experienced more demanding trading conditions and are expected to show reduced levels of turnover and profits.

Outlook 

The Board is confident that its strategy of focusing on key professional business markets will result in further good progress this financial year, despite the impact of the current economic environment on our rate of progression. The Group remains in a strong financial position with modest gearing, strong underlying cash flow and committed facilities for further investment.

Wilmington expects to announce its preliminary results for the year ended 30 June 2008 during the week commencing 15 September 2008.

-Ends-

     For further information, please contact:

    Wilmington Group Plc    

    Charles Brady, Chief Executive                                                                                     020 7422 6800

    Basil Brookes, Finance Director

    Weber Shandwick Financial                                                                                       020 7067 0700

    Nick Oborne,/ Hannah Marwood 

Notes to Editors

Wilmington Group plc is one of the UK's leading providers of information and training for professional business markets. The Group provides training, arranges industry events and publishes magazines, directories, databases and special reports focused primarily on its two principal sectors of Legal & Regulatory, and Business Information which comprises Healthcare and Media businesses.  

 

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