This share is shooting up, recent acquisition has dramatically improved share price. Plenty of surplus cash on books maybe looking for further acquisitions. Maybe not one to miss out on DYOR.

18 September 2012



WILMINGTON GROUP PLC

("Wilmington", "the Group" or "the Company")

Full Year Results for the year ended 30 June 2012



Wilmington Group plc, the professional information and training group, today announces its results for the year ended 30 June 2012.



Highlights



· Good progress towards medium term objectives

- Adjusted EBITA1 increased by 10.2% to £16.5m (2011: £14.9m)

- Adjusted EBITA margins improved to 19.3% (2011:17.8%)

- Adjusted Profit before Tax2 up 4.6% to £14.0 million (2011: £13.4 million) on revenues up 1.8% to £85.3m (2011: £83.8m): statutory profit before tax increased by 4.1% to £6.3m

· Good progress towards strategic objectives

- continued transition to a higher margin, better quality business

- growth in recurring revenues

- focus on key market verticals, with management organised by market

- exited contract directory publishing

- significant investment in new product development

- technology and customer demand increasingly driving convergence of training and information activities

· Publishing & Information revenues from the higher margin online/digital business have increased to 76% (2011: 72%), with print decreasing to 11% (2011: 16%)

Segmental profit3 up 14.8% to £12.2m (2011: £10.6m) on revenues up 4% to £41.8m (2011: £40.2m)

· Significantly restructuring of the legal training business has contributed to improved profitability in Training and Events

Segmental profit3 up 9.2% to £7.1m (2011: £6.5m) on revenues stable at £43.5m (2011: £43.6m)

· Strengthening financial position

- continued strong cash generation, with 109% (2011: 111%) cash conversion of operating profit

- net debt £3.8m lower at £36.2m (2011: £40.0m)

- planned sale of surplus freehold property

· Proposed final dividend of 3.5 pence per share, making a full year maintained dividend of 7.0 pence per share



1 Adjusted EBITA - see note 3 to the financial statements

2 Adjusted Profit before Tax - see note 3 to financial statements

3 Segmental profit before amortisation and share based payments - see note 4 to the financial statements





Mark Asplin, Chairman, commented:



"As part of our transition to a higher margin better quality business, a number of major operational challenges have been successfully addressed during the year. The result is a more streamlined, focussed and profitable business.



"The legal training business is now more profitable and in better shape than it was twelve months ago, although market conditions affecting our client base remain difficult. The phasing out of legacy publishing products will continue during the current year as the Group continues to invest in subscription based digital products and migrates its business away from print directories and services in which it does not own intellectual property. We expect the remainder of our core businesses to continue to show growth. We are also pleased with the progress we are making towards achieving our medium term financial targets."