RWS revenues hit record levels
Language support service company RWS performed strongly during the first half of its trading year, with record revenues and improved profits.
RWS saw revenues hit £172.3m in the six months ended 31 March, an increase of 23% year-on-year, driven by a strong performance in its European intellectual property filing unit and an increased demand for its localisation services.
Adjusted pre-tax profit was forecast to be at least £35.5m, a 24% increase over the prior year, boosted by margin improvements at RWS Moravia as a result of growth in demand for higher value localisation services from several of its top technology clients, favourable exchange rates and overhead cost reduction resulting from last year's restructuring.
Net debt was cut 22.8% to £63.9m.
Chairman Andrew Brode said: "We have had an excellent first half with double-digit underlying revenue growth from our two largest divisions. We remain focused on organic growth and the excellent cross-selling opportunities that are on offer through our enhanced service offering while continuing to review selective potential acquisitions.
"Following a strong first half, we are confident of achieving another record year."
As of 1000 BST, RWS shares were up 4.24% to 564p.