AGM Statement

RNS Number : 6682C

RWS Holdings PLC

12 February 2020

 

                                                                                                                                                                   12 February 2020

RWS Holdings plc

AGM Statement

RWS Holdings plc ("RWS", "the Group"), one of the world's leading language, intellectual property support services and localization providers, is today holding its Annual General Meeting at which Andrew Brode, Chairman, will make the following remarks:

"The financial year ended 30 September 2019 was an excellent year for RWS, with all three divisions delivering record results, enabling the Group to maintain its unparalleled record of 16 years of unbroken growth in revenues, profits and dividends since flotation in 2003. This achievement was recognized when RWS was named Company of the Year at the 2019 AIM Awards."

Current trading and outlook

"We have continued to build on our momentum in the first few months of the 2020 financial year, with several excellent new contract wins, particularly within our IP Services division, leaving us on course to deliver full year results in line with the Board's underlying expectations, notwithstanding the recent currency headwinds. 

"RWS continues to generate a high level of cash and we now expect to return the Group to a net cash position quicker than previously anticipated. We are also pleased to announce that we have agreed an amended debt facility, increasing it to up to US$200m on materially better terms, with a four year term and an option to extend to five years.

"We remain focused upon realizing the full potential of our market leading positions whilst continuing to identify acquisition opportunities that will enhance the Group's geographic coverage or range of services provided."

For further information, please contact:

RWS Holdings plc Andrew Brode, Chairman Richard Thompson, Chief Executive Officer Des Glass, Chief Financial Officer	01753 480200
MHP Katie Hunt/Simon Hockridge	0203 128 8100

Numis (Nomad & Joint Broker) Stuart Skinner/Kevin Cruickshank	0207 260 1000
Berenberg (Joint Broker) Ben Wright/Toby Flaux/Alix Mecklenburg-Solodkoff	0203 207 7800

About RWS: RWS is the world's leading provider of intellectual property support services (patent translations, international patent filing solutions and searches), a market leader in life sciences translations and linguistic validation, a leading localization provider, and a high-level specialist language service provider in other technical areas, providing for the diverse needs of a blue-chip multinational client base from Europe, North America and Asia. RWS is based in the UK, with offices in Europe, North America, Asia, Latin America and Australia, and is listed on AIM, the London Stock Exchange regulated market (RWS.L). For further information, please visit: www.rws.com

Forward-Looking Statements

This announcement contains certain statements that are forward-looking statements. They appear in a number of places through this announcement and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated.  The forward-looking statements reflect knowledge and information available at the date of preparation of this document and, unless otherwise required by applicable law, the Company undertakes no obligation to update or review these forward-looking statements. Nothing in this announcement should be construed as a profit forecast. The Company and its directors accept no liability to third parties in respect of this document save as would arise under English law.

 

END

 

 

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