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UPDATE 1-Wilmington sees lower H1 results

Wed Nov 11, 2009 2:34am EST

Stocks

   

* Says cost savings, efficiencies to help FY results * Says trading performance difficult

Cyclical Consumer Goods

* Says legal sector remains depressed (Adds details)

Nov 11 (Reuters) - British media and services company Wilmington Group (WIL.L) said it continued to expect lower first-half results compared with the previous year, but its full-year results will benefit from cost savings and efficiencies.

Wilmington, which also provides training for the banking and public sector, said trading performance continued to be difficult, with the legal sector remaining depressed. The company said as expected, the Matchett graduate training programmes for investment banks generated significantly less revenue than the previous year despite increasing market share.

However, Wilmington said many of its other businesses achieved encouraging levels of turnover and profitability.

Wilmington shares closed at 145 pence on Tuesday on the London Stock Exchange. (Reporting by Kumar Alagappan in Bangalore; Editing by Vinu Pilakkott)



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