Trading still depressed at Wilmington

11th Nov 2009 08:33

Professional information and training group Wilmington expects first half results to be below levels the same time a year before as trading conditions remained depressed. The group said trading conditions remains particularly tough in the legal sector but it has seen encouraging levels of revenue and profitability in other businesses and was benefiting from cost cuts made earlier this year."The resilience of Wilmington's portfolio of businesses is demonstrated by the encouraging levels of turnover and profitability achieved by many of the Group's other businesses," Wilmington said in a company statement. "The board continues to expect that the results for the first half of the financial year will be below the level achieved in the prior year but that the full year results will benefit from the cost savings and efficiencies, together with less difficult comparators," it added.It said bank facilities secured until 2012 will help development of its business for the medium term.