26th Oct 2021 11:21
RWS Holdings PLC - Buckinghamshire, England-based language support services - Expects adjusted pretax profit for the financial year that ended on September 30 to be ahead of market consensus, with revenue within the range of market expectations. The uplift reflects a wider-than-expected profit margin driven by both an "improved margin mix and the early stages of operational efficiencies from the integration of SDL into the group", RWS states. Remains highly cash generative, resulting in a movement to net debt, including lease liabilities, of around GBP3 million at year end, paid down from GBP15.1 million the year previously. In financial 2020, RWS posted pretax profit of GBP58.7 million on revenue of GBP355.8 million.
"The group has delivered strong results, with a robust revenue performance combined with a stronger than anticipated margin, following the acquisition of SDL," comments Chief Executive Ian El-Mokadem. "Following a good few months in the business, it is clear to me that I have joined RWS in a strong position, with an excellent team in place to drive the business forward and build on its leadership of its growing, fragmented markets, alongside a healthy cash position to support the group's strategy."
The former managing director for UK & Ireland at caterer Compass Group PLC joined RWS in July.
RWS will publish its full-year results on December 14.
Current stock price: 627.00p, up 3.1% Tuesday
Year-to-date change: up 17%
By Will Paige; [email protected]
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