12th Feb 2020 09:00
(Alliance News) - RWS Holdings PLC on Wednesday said it expects to meet board expectations for the financial year.
Shares in the company were 5.8% higher at 598.00 pence each in London on Wednesday morning.
RWS IP Services, the intellectual property unit, RWS Life Sciences, which provides translations services and localisation services division RWS Moravia all had "record results" for the year ended September 30.
"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," Chair Andrew Brode said ahead of the firm's annual general meeting on Wednesday.
He added: "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."
The company added that it expects to attain a net cash position "quicker than previously anticipated". RWS said it has amended a debt facility, increasing the financing by up to USD200 million on "materially better terms".
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
RWS Holdings