31st Mar 2008 07:01
RWS Holdings PLC31 March 2008 31 March 2008 RWS Holdings plc Trading Update RWS Holdings plc ("RWS" or "the Company"), Europe's leading provider ofintellectual property support services (patent translations and technicalsearches) and technical translations, today provides an update on trading forthe six months ending 31 March 2008 ahead of the announcement of its interimresults on 2 June 2008. The Board is confident that growth in revenues and, more particularly, profitbefore tax for the first half of the financial year will continue the dynamicupward trend seen in all periods since flotation. This assessment reflectscontinued high levels of demand for the Company's services from both new andexisting customers, enhanced by favourable exchange rates. RWS has maintained its focus on high quality translations and other IP relatedactivities where it profits from its acknowledged market leadership. The coretranslations business has made further good progress, whilst the informationdivision's high-margin patent database subscription service - PatBase - goesfrom strength to strength. In line with RWS's stated strategy to complement organic growth by deploying theGroup's cash resources for selective acquisitions, we announced, on 11 February,the acquisition of Document Service Center, a Berlin-based provider of technicaltranslations to a cross-section of German and Swiss corporates. At this earlystage we are pleased that integration is proceeding to plan and are confidentthis acquisition will be earnings enhancing in the current financial year. Thesearch effort for similar acquisitions has been stepped up. RWS continues to enjoy the benefits of a strong balance sheet with shareholderfunds in excess of £29 million and net cash of £17 million. Foreign exchangeexposure in Euros has now been largely hedged at extremely favourable ratesuntil the financial year end at 30 September 2008. Andrew Brode, Executive Chairman, commented: "At a time when the economic climate is more challenging than for some years,RWS is very well positioned to continue to grow its share of the highlydefensive intellectual property translation and services market. We thereforelook to the second half of the year with confidence." - ends - For further information, please contact: RWS Holdings plcAndrew Brode, Executive Chairman Tel: 01753 480200 SmithfieldKatie Hunt Tel: 020 7360 4900 About RWS: RWS is Europe's leading provider of intellectual property support services(patent translations and technical searches) to the medical, pharmaceutical,chemical, aerospace, defence, automotive and telecoms industries. RWS is basedin the UK with offices in Europe, New York, Tokyo and Beijing and is listed onAIM, the London Stock Exchange regulated market (RWS.L). For further information please visit: www.rws.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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