Wilmington — Supporting clients in regulated markets

Wilmington’s H125 results show its strong positioning in growing governance, risk and compliance (GRC) regulated markets. Revenues from ongoing business were 16% ahead (+3% organic), with a step up in adjusted PBT margin from 21% to 25%. The level of repeat revenues in the continuing business (including recurring revenues), edged up 1% to 72%. The October 2024 acquisition of Phoenix Health & Safety expanded the training and education offering in the substantial health, safety and environmental (HSE) regulated area. Net cash was £31.3m at 31 December, post the £29.2m spend on Phoenix, giving plenty of firepower for further M&A. Current trading is in line with full-year market expectations.