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).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
NR
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
