8th Dec 2015 08:43
LONDON (Alliance News) - RWS Holdings PLC on Tuesday said its pretax profit and revenue both increased in the year to the end of September thanks to a strong performance in its core translation services business, prompting it to hike its dividend payout.
RWS, which provides intellectual property support services, translation services, international patent filing support and linguistic validation, said its pretax profit for the year to September 30 was GBP20.7 million, up 6.0% year-on-year from GBP19.6 million.
This prompted RWS to hike its final dividend to 3.85 pence, up from 3.60p, taking its total dividend up 6.6% to 4.88p from 4.58p.
Revenue rose to GBP95.2 million from GBP93.6 million, driven by strong sales in RWS's core patent translation business, along with growth in revenue from its Inovia foreign patent filing arm and higher subscription revenue from its PatBase patent search database.
"The group has delivered sales and profits ahead of expectations and strong cash conversion, marking the twelfth successive year of progress since flotation and it has made a solid start to the new financial year, in line with its expectations," said Chairman Andrew Brode.
"The board is, therefore, confident in the group's prospects and expects to report further progress as it continues to consolidate its market leading positions in the steadily growing intellectual property support services space and the life sciences sector," he added.
RWS shares were down 2.1% to 220.8092 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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