Business
Interim Management Statement
Interim Management Statement.
About this update from Wilmington Plc
[{"type":"text","content":"\n \nRNS Number : 9874X Wilmington PLC 12 May 2016 \n\n12 May 2016\n \nWilmington plc\n \nInterim Management Statement \n \nWilmington plc (\"Wilmington\" or \"the business\"), the knowledge leader in Risk & Compliance, Finance, Legal, and Insight announces its Interim Management Statement for the nine month period to 31 March 2016 with comments reflecting trading to-date. \n \nTrading Update\nGroup revenue was up 9% during the nine months ended 31 March 2016 accompanied by good profit growth. Overall, performance is in line with expectations, with good organic growth coming from the Finance division, supported by strong contributions from the acquisitions made during the period. \nThe Risk & Compliance division continues to grow overall driven by contributions from Axco, ICP and Compliance Week with public and on-line compliance training revenue growth balancing the reduction in one-off revenue assignments compared to 2014/15. As previously reported, the growth within these two divisions and the contribution from our acquisitions were offset to some extent by continued declines in revenue from Legal and to a lesser extent from Insight which is recovering from its mixed start. Like for like revenue growth, adjusting for the three acquisitions made in period and the disposal of the Media business, was 1%.\nDuring the nine month period, Wilmington continued to see growth in reported operating profits, but consolidated operating margins were down slightly reflecting inter-alia, the ongoing investment in the compliance training business to support growth and reduced margins in Legal. \n \nOperational Review\nWilmington Risk & Compliance \nWilmington Risk & Compliance delivered revenue growth during the period measured against a strong prior year comparator. In support of this continued growth, as reported in the interim results we have invested in a number of senior appointments, trainers, sales and administrative support staff together with e-learning capability and compliance programs to expand our infrastructure. This investment will continue into 2016/17 with the continued expansion of the International Compliance Association (ICA) education and training programs into new geographies and industry sectors as well as investment in new ICA membership benefits including...