Updates

Wilmington

March 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Last month’s issue of SCSW referred to Wilmington’s acquisition of Wellards as being the first under chief executive Pedro Ros. Actually, it was the second as I had totally forgotten Ros acquired Financial Research Associates (FRA) last summer.The company has just released H1 results showing sales up 7% or £3.3m to £49.4m and pretax profit up 10% to £8.9m. Adjusted eps was up 11% at 7.9p. FRA contributed £2.9m to sales so organic growth looks fairly muted at just £0.4m or 2% but as in previous years there is a H2 weighting. FRA also only made a modest contribution as it too is H2 loaded and a 20% margin business. This year will include a maiden contribution from Wellards.The results d ...

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Utilitywise

Lavendon - Trading at close to book value (131p)

Wilmington (August 2024)

Wilmington (June 2024)

Wilmington - Could have £100m war chest by year end (March 2024)

Wilmington (November 2023)

Wilmington (August 2023)

Wilmington (March 2023)

Wilmington - Labels itself as governance, risk and compliance (GRC) specialist (November 2022)

Wilmington (August 2016)

Wilmington (May 2016)

Wilmington (February 2016)

Wilmington (October 2015)

Wilmington (August 2015)

Wilmington (June 2015)

Wilmington (March 2015)

Wilmington (October 2014)

Wilmington (March 2014)

Wilmington (October 2013)

Wilmington (March 2013)

Wilmington (December 2012)

Wilmington - Quality of earnings and margins rise (October 2012)

Wilmington (June 2012)

Wilmington - "Unprecedented organic growth" (May 2012)

Wilmington - Bid approach (August 2008)

Wilmington (July 2007)

Wilmington - Buys accountancy training business (November 2006)

Wilmington - Further acquisitions should excite (April 2006)

Wilmington - Bolt on acquisition (November 2005)

Wilmington (October 2005)

Wilmington - Training and compliance growing like topsy (August 2005)

Wilmington - Further acquisitions expected (March 2005)

Wilmington - H1 trading at top end of expectations (January 2005)

Wilmington - Pleasing results (October 2004)

Wilmington (August 2004)

Wilmington - Results will be ahead of forecast (August 2003)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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