StockMarketWire.com - Risk and compliance services group Wilmington swung to a full-year loss after it wrote down the value of its assets, though its underlying performance improved on cost cutting.

Pre-tax losses for the year through June amounted to £2.0 million, compared to a year-on-year profit of £6.4 million, and included £14.8 million of non-cash impairment charges.

Adjusted pre-tax profit rose 27% to £15.0 million, even as revenue remained broadly flat at £113.0 million.

Wilmington declared a final dividend to 3.9p per share, bringing the total payout for the year to 6p, up from zero year-on-year.

'We have continued to refine and embed our digital capabilities across the business,' chief executive Mark Milner said.

'This reflects our ambition to create a fully digital enterprise whilst retaining the flexibility to offer our customers face-to-face and hybrid solutions.'

'We are now at an inflexion point with a simplified portfolio and are well positioned to address large and growing markets which are increasingly online.'

'The current financial year has started well, in line with our expectations.'




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