RWS Holdings reports solid start to new financial year
Language, content and intellectual property service provider RWS Holdings said in an update on Wednesday that it had started its financial year “well”, and was trading in line with market expectations.
The AIM-traded firm, which was holding its annual general meeting, put that down to “strong performances” from its language services and regulated industries divisions, which had offset a weaker performance in its IP services division, which represented 16% of group revenues in the last financial year.
Chairman Andrew Brode said that in 2022, the company was focused on capitalising on its expanded scale, footprint and capabilities for clients, to drive sustainable organic growth from an efficient cost base.
“Our strategy will harness our broader technologies to deliver new solutions to clients, drive further operating efficiencies and ensure the group is at the forefront of the technology-led evolution of our industry,” Brode said.
“The group's strong cash generation and balance sheet continues to support its plans to invest for growth, including in software and internal systems, and in selective acquisitions to enhance the group's capabilities and geographical reach, alongside delivering shareholder returns.
“We look forward to providing an update on how we will continue to take advantage of the ongoing changes in our industry, the group's medium term growth strategy, and how we will deploy our technology and capital to support our organic and acquisitive growth plans at our capital markets day on 23 March.”
At 1257 GMT, shares in RWS Holdings were up 1.44% at 464.6p.