Wilmington Group - Focus on governance, risk and compliance
With November’s purchase of Astutis, January’s sale of MiExact and the proposed Healthcare business disposal, Wilmington is now firmly focused on opportunities within the large global governance, risk and compliance (GRC) market. The group’s significant cash resource should enable further M&A to accelerate growth across the GRC landscape, while investment in technology platforms and AI capabilities improves revenue and operating margin prospects in the core activities. H124 organic revenue growth (continuing business) was up 7%, with a 12% gain in adjusted EPS. FY24 results to June are expected in line with market forecasts. Given the improving quality of earnings we regard the valuation as undemanding.Wilmington Group is the provider of information, education and networking to the professional markets. Co. is structured into three business segments being Risk & Compliance, which provides accredited regulatory and compliance training and information, market intelligence, and analysis; Professional, which provides technical training as well as support services to personnel in corporate finance and capital markets and to lawyers and accountants in the U.K. in both the profession and in industry; as well as Healthcare, which provides analysis and clarity to customer-focused organizations primarily in the Healthcare and Life Science markets.
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