Pre Close Statement July 2012
Wilmington Group plc (‘Wilmington’ or ‘the Group) today announces its pre close trading update.
The Group’s performance for the year ended 30 June 2012 is anticipated to be in line with the Board’s expectations with Adjusted EBITA(1) showing growth and Adjusted Profit before Tax(2) in line with the prior year reflecting increased finance charges from the new banking arrangements put in place in June 2011. Adjusted EBITA margin is expected to have increased driven mainly by cost reductions implemented in the autumn. Cash flow during the year has been good with net borrowings at the year end below £37m (2011: £40m).
Wilmington intends to announce its full year results on 18 September 2012.
1 Adjusted EBITA – Adjusted Profit before Tax and net finance costs
2 Adjusted Profit before Tax – profit before tax, amortisation of intangible assets, unwinding of the discount on the provisions for future purchase of non-controlling interests, unwinding of the discount on deferred consideration, share based payments and non-recurring items
For further information, please contact:
Wilmington Group Plc 020 7422 6800
Charles Brady, Chief Executive
Basil Brookes, Finance Director
Weber Shandwick Financial 020 7067 0700
Nick Oborne or Stephanie Badjonat
Notes to Editors
Wilmington Group plc is one of the UK's leading providers of information and training for professional business markets including accountancy and tax; banking; charities; financial compliance; healthcare; insurance; law and pensions. Capitalised at approximately £80 million, Wilmington floated on the London Stock Exchange in 1995.