Wilmington predicts further growth

Business magazine publisher Wilmington Group plc has reported profit before tax up 25.7 per cent to £15.2m on revenue up 23.8 per cent to £81.5mn.

The publisher of Press Gazette reported a ‘particularly strong performance’by its Legal and Regulatory division, home to Solicitors Journal magazine, and said its business information division also ‘performed well”.

The group sold off a sizeable part of its publishing business to Progressive Media in August for £12m.

The sale included all the group’s magazines in design, construction, power, catering, automotive and other specialist markets.

These assets, Wilmington said, represented a combined turnover of £19.8m and an operating profit of £1.2m.

Commenting on the end of year results, Wilmington chairman David Summers said: ‘The group is now focused on serving the information and training requirements of niche professional markets. We believe that these markets offer excellent opportunities for above average growth over the longer term.

‘The board is very encouraged by the continued improvement in the underlying quality of the group’s earnings and is confident of demonstrating further progress in the current year.”

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