7th Jun 2016 06:56
LONDON (Alliance News) - Intellectual property support services provider RWS Holdings PLC on Tuesday reported higher profit thanks to acquisition-driven revenue growth in the first half of its financial year, prompting a hike to its interim payout.
RWS said its pretax profit for the six months to March 31 was GBP10.9 million, compared to GBP9.6 million a year earlier. Revenue grew to GBP56.9 million from GBP45.4 million a year previously, helped higher by a five-month contribution from Corporate Translations Inc.
RWS said it will pay an interim dividend of 1.15 pence per share, up 12% from the 1.03p paid a year earlier.
The company said it performed well in its core patent translation business in the half, with new client wins boosting its US and European operations and further progress made in the Chinese market.
RWS added trading so far in the second half of its financial year to the end of September has been strong, aided by favourable currency movements.
"Our technology platforms, extended expertise and market position form a strong base from which we intend to expand aggressively and profitably and we are encouraged by the opportunities we are seeing across the business. Furthermore, our robust financial position leaves us well placed to continue to selectively review a healthy pipeline of potential acquisitions," said Chairman Andrew Brode.
By Sam Unsted; [email protected]; @SamUAtAlliance
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