RWS Holdings PLC
31 March 2008
31 March 2008
RWS Holdings plc
Trading Update
RWS Holdings plc ('RWS' or 'the Company'), Europe's leading provider of
intellectual property support services (patent translations and technical
searches) and technical translations, today provides an update on trading for
the six months ending 31 March 2008 ahead of the announcement of its interim
results on 2 June 2008.
The Board is confident that growth in revenues and, more particularly, profit
before tax for the first half of the financial year will continue the dynamic
upward trend seen in all periods since flotation. This assessment reflects
continued high levels of demand for the Company's services from both new and
existing customers, enhanced by favourable exchange rates.
RWS has maintained its focus on high quality translations and other IP related
activities where it profits from its acknowledged market leadership. The core
translations business has made further good progress, whilst the information
division's high-margin patent database subscription service - PatBase - goes
from strength to strength.
In line with RWS's stated strategy to complement organic growth by deploying the
Group's cash resources for selective acquisitions, we announced, on 11 February,
the acquisition of Document Service Center, a Berlin-based provider of technical
translations to a cross-section of German and Swiss corporates. At this early
stage we are pleased that integration is proceeding to plan and are confident
this acquisition will be earnings enhancing in the current financial year. The
search effort for similar acquisitions has been stepped up.
RWS continues to enjoy the benefits of a strong balance sheet with shareholder
funds in excess of £29 million and net cash of £17 million. Foreign exchange
exposure in Euros has now been largely hedged at extremely favourable rates
until the financial year end at 30 September 2008.
Andrew Brode, Executive Chairman, commented:
'At a time when the economic climate is more challenging than for some years,
RWS is very well positioned to continue to grow its share of the highly
defensive intellectual property translation and services market. We therefore
look to the second half of the year with confidence.'
- ends -
For further information, please contact:
RWS Holdings plc
Andrew Brode, Executive Chairman Tel: 01753 480200
Smithfield
Katie Hunt Tel: 020 7360 4900
About RWS:
RWS is Europe's leading provider of intellectual property support services
(patent translations and technical searches) to the medical, pharmaceutical,
chemical, aerospace, defence, automotive and telecoms industries. RWS is based
in the UK with offices in Europe, New York, Tokyo and Beijing and is listed on
AIM, the London Stock Exchange regulated market (RWS.L).
For further information please visit: www.rws.com
This information is provided by RNS
The company news service from the London Stock Exchange
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