15th Oct 2019 09:40
(Alliance News) - RWS Holdings PLC said Tuesday it expects to report a strong annual performance, driven by robust organic growth from its core businesses.
The language support services provider said the for the year to the end of September, adjusted pretax profit is set to rise significantly from the year before, and be marginally ahead of market expectations.
Adjusted pretax profit for the 2018 financial year was GBP61.8 million.
Meanwhile, revenue has been guided to be at least GBP355 million, a 16% increase from GBP306 million the year before.
RWS Moravia, which is the group's largest division by sales, achieved record revenue for the year through the expansion of its client base.
RWS acquired localisation services firm Moravia in November 2017 for USD320 million.
Meanwhile, RWS Intellectual Property Service performed well through its Worldfile and Eurofile businesses, and RWS Life Sciences benefited from robust trading in its Linguistic Validation unit.
"This has been an excellent year for RWS, with strong financial results across all three of the group's divisions. These divisions now have a clear focus on highly specialised areas of the language services market, combined with an integrated sales approach," said Chair Andrew Brode.
"We operate in growing markets, with market leading divisions in IP support services, life sciences and localization, leaving us well placed to deliver further progress in the current and future years," Brode added.
RWS Holdings will publish its annual results on December 10.
Shares in RWS Holdings were down 0.7% at 606.00 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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