Wilmington posts increase in pre-tax profit, confident of meeting targets

15th Sep 2015 10:41

(ShareCast News) - Risk and compliance service provider Wilmington said it was on track to meet is annual target, on the back of an increase in pre-tax profit.In the 12 months to end June, pre-tax profit rose 19.7% year-on-year to £10.3m, while revenue grew 5.6% to £95.1m, driven by strong growth in the risk and compliance division and a good performance in the finance arm.The group said its insight business had "performed satisfactorily", despite being hit by currency headwinds, while the legal division reported a decline in revenue due to a challenging market environment."Trading in the new financial year has started well, in line with the board's expectations and tighter regulatory control and more complex legislation in our key markets is driving demand for our products and services globally," said group chairman Mark Asplin."We enter the year ahead with solid market positions and will continue to invest across the business to deliver significant organic revenue growth, supplemented by selective earnings enhancing acquisitions consistent with our strategic objectives."Wilmington shares were up 1.24% to 265.25p at 1105 BST on Tuesday.