Wilmington's margin grows following cost reductions

Wilmington Group, a professional information and training group, said it did as well as it expected in the fiscal year just ended, with earnings boosted by cost reductions that were implemented last year.

Adjusted pre-tax profit is set to be in line with the previous year, a reflection of increased finance charges from the new banking arrangements put in place in June 2011. The increased finance charges were flagged back in February. Adjusted earnings before interest, tax and amortisation (EBITA) should show year-on-year growth, however, with the EBITA margin improving, largely as a result of 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).

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.