Media Company to Sell Construction Market Assets
June 21, 2007 •The board of the U.K-based Wilmington Group plc, which specializes in information products such as magazines and directories, has conducted a strategic review of its business and has concluded that the company should focus on its professional markets business.
The company will focus on its professional markets, which includes its legal and regulatory, healthcare and media and entertainment activities. These segments account for approximately 93 percent of group profits before tax in the year to June 2006.
Grant Thornton has been appointed to conduct the sale. The board expects to issue a further statement at the conclusion of the process.
“Our aim remains to significantly grow the revenues and profits of the group organically and by acquisition,” said Charles Brady, CEO. “By focusing our investment and resources, the group will be better positioned to accelerate the development of training and information businesses in its core markets. The businesses for sale have benefited from significant investment in the last 24 months and have excellent prospects. The group's performance remains in line with our expectations.”
