12th Apr 2016 07:08
LONDON (Alliance News) - Intellectual property support services provider RWS Holdings PLC on Tuesday said it expects revenue to grow in the first half, with adjusted pretax profit to meet its expectations.
RWS said revenue for the half to the end of March is anticipated to be around GBP56.5 million, up from GBP45.4 million a year earlier, up 24%. RWS said this has been driven by its core translation work, a good contribution from the Corporate Translations Inc business it acquired in October, and beneficial currency movements.
Adjusted pretax profit, meanwhile, its set to be around GBP13.8 million for the first half, up from GBP10.8 million a year earlier, and in line with RWS's expectations.
"Our financial position is robust and the pipeline of further acquisitions is promising. We can, therefore, expect further progress in the second half of the year and beyond," said Chairman Andrew Brode.
Shares in RWS Holdings were down 3.0% at 223.18 pence Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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