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Wilmington PLC on Monday announced a higher interim dividend but its interim profit fell on lower income from selling subsidiaries.
The London-based provider of information and training for governance and risk & compliance said pretax profit in the six months to December 31 fell to £10.0 million from £25.1 million a year prior. Revenue decreased to £57.4 million from £58.9 million. Gain on disposal of subsidiaries fell to £2.2 million from £16.1 million.
Wilmington explained that at the end of 2022 it sold its Spanish insurance business Inese for net proceeds of £2.6 million, with a gain of £2.2 million, while at the end of 2021 it sold its financial trading business AMT for £23.4 million with a gain of £16.1 million.
The company declared a dividend of 2.70 pence per share, up 13% from 2.40p a year prior.
Looking ahead, Wilmington said trading is currently in line with expectations.
Chief Executive Officer Mark Milner said: ‘Whilst we are mindful of current economic uncertainties, we have a strong contracted order book which underpins our confidence for the second half.’
Wilmington shares were 7.2% higher at 343.00 pence each in London on Monday afternoon.
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