Data provider Wilmington has hailed “another strong year” after it posted double-digit profit growth and revenue.
The London-listed firm, which in the summer offloaded its UK healthcare unity for £26.3m, saw its profit before tax soar 42 per cent to £24.1m in the year ended 30 June. Its profit margin rose a quarter to 26.8 per cent.
According to the unaudited results, revenue grew 14 per cent, up to £89.7m from £78.7m in the year prior.
The firm’s strong results allowed it to raise its dividend to 11.3p, up 13 per cent from 10p in 2023.
The results cap a year in which Wilmington claimed to have “continued to enhance and streamline” its portfolio”, with £26.3m sale of its UK healthcare division and the acquisition of Astusis, a health and safety training business, in November 2023.
Wilmington’s portfolio overhaul also strengthened its balance sheet. As of 30 June, it had £67.8m net cash, up from £42.2m in 2023.
Mark Milner, the Wilmington chief executive, said: “We have delivered another strong year, in line with our strategy with notably strong increases in revenues, profits and cash generation. Margins have also continued to improve strongly.
“We continued to focus on consolidating our already strong presence in the large, growing and rapidly evolving international GRC markets.”
The firm also opened the door to further merger and acquisition activity in the coming year, saying it would “continue to pursue various opportunities” to invest in acquisitions.
The results cap what has been a strong year of performance for the data provider, which has been a major beneficiary of firms’ increasing reliance on data storage and protection. Shares in the firm, which are traded on London’s Main Market, have risen 15 per cent year to date, and 23 per cent in the past full year.
Earnings per share more than doubled in its fiscal year, rising 102 per cent to 46.32p.