11th Feb 2025 10:12
(Alliance News) - RWS Holdings PLC on Tuesday said it returned to organic constant currency growth in the second half of the year as it moves towards artificial intelligence solutions.
The Buckinghamshire, England-based technology-enabled language services provider's Chair Julie Southern said at the firm's annual general meeting that it is encouraged by another period of organic constant currency growth in the first quarter of the 2025 financial year.
"Client retention levels remained high, client satisfaction improved and we achieved significant new wins," Southern said.
She said the company has been able to pivot to "AI-led and more specialist solutions" due to its investments in growth and efficiency.
The company continues to experience some challenges related to price and mix, the chair said.
Southern said: "Our cost control programme is progressing well, with the majority of these benefits realised in the second half, as planned. We continue to look for opportunities to drive efficiencies through process improvement and increased use of technology.
"In line with our previous guidance, we expect to deliver modest OCC revenue growth in FY25, with growth in volumes anticipated to more than offset ongoing price pressure."
RWS Holdings shares climbed 6.6% to 149.38 pence in London on Tuesday morning.
By Michael Hennessey, Alliance News reporter
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