Wilmington FY to be hurt by weak Q3

14th May 2009 08:44

Shares in Press Gazette publisher Wilmington fell nearly 15% after it warned that trading from 1 January 2009 to 31 March 2009 had been below company expectations and will impact the full year's performance"Conditions have continued to be difficult," the group said in Thursday's statement. In the third quarter ending 31 March 2009 trading at its Professional Publishing & Information businesses was slightly below group expectations, with difficult trading conditions experienced particularly in the Media & Entertainment sector.Like-for-like sales at the division for the nine months to March were however 3% ahead of the same period a year ago.At Wilmington's Professional Training businesses, "market conditions adversely and significantly impacted legal course bookings and some other short courses, particularly in the areas of investment banking and finance."Like-for-like revenue in the division fell 13% from a year ago.