Business
Financial results for the year ended 30 June 2019
Financial results for the year ended 30 June 2019.
About this update from Wilmington Plc
[{"type":"text","content":"\n \nRNS Number : 8765M Wilmington PLC 19 September 2019 \n\n19 September 2019 \n \nWilmington plc\n('Wilmington', 'the Group' or 'the Company')\nFinancial results for the twelve months ended 30 June 2019\nWilmington plc, the provider of information, education and networking services in Risk & Compliance, Healthcare and Professional knowledge areas, today announces its full year results for the twelve months ended 30 June 2019.\n \nFinancial Highlights\n- Revenues for the year up 1% to £122.5m (2018: £121.3m)\no Up 1.5% on an organic1 basis reflecting a shift in momentum given the declines of the last two years\n- Adjusted EBITA2 decreased by 9.7% to £21.5m (2018: £23.8m) with EBITA margins at 17.6% (2018: 19.6%)\no Reflects previously signalled cost increases to support growth initiatives\n- Adjusted profit before tax3 down 11.5% to £19.3m (2018: £21.8m)\n- Profit before tax at £14.7m (2018: £2.3m)\no Increase reflects the benefit of the gain on sale of ICP business of £1.9m plus the non repeat of one-off costs in the prior year including head office move £3.1m, and goodwill impairment £8.6m\n- Adjusted earnings per share4 down 11.9% to 17.44p (2018: 19.80p)\n- Basic earnings per share of 12.74p (2018: loss per share of 0.45p)\n- Final dividend increased 4% to 5.0p (2018: 4.8p); total dividends up 3% to 9.1p (2018: 8.8p)\n- Strong cash conversion5 at 123% (2018: 108%)\n- Group net debt at 30 June 2019 was £33.9m (2018: £39.6m). Represents 1.4 times adjusted EBITDA (2018: 1.5 times)\no Debt facilities extended after the year end to July 2023 (with option to extend to October 2024)\n \nOperational Highlights\n- 6% organic growth in Risk & Compliance driven mainly by double digit growth in the main Compliance business\no Strong demand for online courses and bespoke in-house programmes\no Investment in new platform for Compliance Week and new courses developed for wealth management\no Axco secured a numb...