14th Oct 2014 07:56
LONDON (Alliance News) - Intellectual property support services company RWS Holdings PLC said it expects to post pretax profit for the year in line with market expectations, despite facing headwinds from the strength of sterling.
The company said it expects to post a 26% rise in revenue on a constant currency basis in the year to September 30 to GBP97.8 million, up from GBP77.4 million a year earlier, with reported revenue expected to be up 21% to GBP93.4 million.
Despite saying it has been hit by the strength of sterling, it said it expects pretax profit for the year to hit GBP22.1 million, in line with market expectations.
The group said its revenue had been boosted by growth in its core patent translations business, along with sales from its inovia Holdings Pty Ltd arm and a strong performance from its search arm, with patent search revenue up 36% and PatBase subscription revenue rising 5%.
The group said its balance sheet has strengthened over the year and anticipates this will result in a rise in its final dividend, at least in line with market consensus.
"We have a healthy pipeline of new client wins and prospects throughout our different service lines, and can look forward to further benefits accruing from the full integration of inovia. This leaves the group well positioned to make further positive progress in the new financial year and grow our share of the expanding worldwide intellectual property support services market," said RWS Executive Chairman Andrew Brode.
RWS shares were up 1.2% to 750.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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