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RWS to post flat revenue performance; profit in line with market expectations

By BFN News | 08:00 AM | Tuesday 20 October, 2020


Language services group RWS said it expected to post a full-year profit in line with market expectations amid a broadly flat revenue performance. Revenue for the year through September would be at least £355 million, which RWS said was within the range of market expectations and in line with the previous year's £355.7 million. 'This reflects a resilient underlying business performance, particularly given the disruption caused by Covid-19 to our intellectual property and general language translation businesses,' the company said. Adjusted pre-tax, which excludes amortization of intangibles, acquisition, restructuring, share option costs and a warranty insurance settlement, was also expected to be in line with market expectations. 'Whilst we are not reinstating financial guidance at this stage, due to ongoing market uncertainty, the group has a strong platform from which to continue to deliver resilient performance and to integrate the SDL acquisition effectively,' chairman Andrew Brode said. 'The group's focus on life sciences and technology customers, who are thought to be likely beneficiaries in a post Covid-19 world, and the importance to our customers of managing their research and development investments through a strong global patent strategy, puts RWS in a strong position.' At 8:00am: (LON:RWS) Rws Holdings PLC share price was -17.5p at 586.5p Story provided by StockMarketWire.com

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