Wilmington comfortable with a long UK lockdown

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Wilmington PLC (LON:WIL) said longer coronavirus lockdowns and a fully virtual schedule are likely to lead to better revenue and profitability than it has previously guided for.

The provider of information, networking and training said the financial results for the first quarter of its financial year to end-September 2020 have been “encouraging” and ahead of management’s previous expectations.

Revenue since the end of June was down around 6% on an underlying basis due to the inability of the group to run face-to-face training and events, though adjusted profit before tax was up year-on-year.

So while the chances of being unable to run face-to-face events in the UK has increased in recent weeks as the pandemic has developed, Wilmington said: “we feel increasingly confident in our ability to mitigate some of the associated financial effects of that potential outcome”.

 

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