11th Feb 2014 12:23
LONDON (Alliance News) - RWS Holdings PLC said that it had seen sales for the first four months of the year 27% ahead of the previous year, although "marginally" behind its expectations due to the strengthening sterling, in a statement ahead of its annual general meeting Tuesday.
The intellectual property support services company maintained its guidance for the full-year, notwithstanding further adverse currency movements.
It said that sales had been restrained by the strength of sterling and some delays on the conversion of its pipeline of potential new customers.
RWS saw good growth in its core patent translations business, and said that its Information division performed ahead of expectations.
"We have a strong balance sheet, an interesting flow of niche acquisition opportunities, and remain confident of continuing to enhance our market leading position in the intellectual property arena," said Executive Chairman Andrew Brode in a statement.
Shares in RWS were trading down 2.5% at 990.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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