Have taken a modest stake in RWS, which has niche market in patent translations into various languages for blue chip customers. Market cap approx 120M, but has 20M cash in the bank and excellent track record on profit/cash generation. Shares have been punished recently because of a forthcoming European Directive which will affect need for some translations. IMO the drop in the price from 360p to the 3 I paid looks overdone, but we shall see. Might be worth a look for those interested in medium term investing. Always DYOR

Think it has been double digit dividend increase in each of last 8 years Halifax. Recent acquisition of online patent filing business could provide next leg up in profitability/cash flow from 2012. Still has plenty of cash in the bank. Chairman's large stake could put some off, but he seems gradually to be putting ducks in a row for succession. I am very happy to have stayed with it - and will continue to do so, but always dyor.

Steady as she goes set of numbers today, interim divi again increased a sign of confidence. Potential banana skin looming in the shape of European Union patent legislation, but RWS coped well with London Agreement a few years ago and more diverse business nowadays suggests effects should not be too great - even if ( and a big if) the Eurocrats ever come to a decision. Large acquisition last year inovia now looks around breakeven and growing strongly. Cash generation remains excellent and still lots in the bank. Happy to stay with it, but always dyor.

Rather belated positive response in last few days to year end trading statement earlier this month and results due mid December should not disappoint. Spread seems to have widened. Interesting, but always dyor.

Ninth successive year since flotation of growth in sales, profit and dividend. Cash pile maintained at £25M pending earn out payment for inovia due Sept 2013. I take additional comfort from "strong start to new financial year, in line with management expectation and well ahead of 2011". inovia remains something of an unknown quantity, but if it gets anywhere near the max earn out figure based on min EBITDA $5.4M in year to June 2013, then RWS cash should generate a much higher return invested in that (when it becomes consolidated subsidiary end September 2013) than it presently does on cash deposits. Always dyor.

Listen to RWS Holginds - Half year report for the six months to 31 March 2013

CLICK HERE TO LISTEN

Thanks js - been a bit lonely on this thread last five and a half years. I have a lot of time for Andrew Brode. Not cheap after today's rise, but track record excellent, yield respectable and divi likely to rise again this year. Profit should get a significant boost from inovia later this year. Not selling mine, but always dyor.

Earnout agreed for inovia acquisition, business performing a little ahead of expectation. Augurs well - inovia EBITDA $2.7M for year ended 30th June 2013 should provide rather better return for RWS henceforward than £25M in the bank earning little or no interest, but always dyor.

Listen: RWS Holdings (RWS) - #Acquisition of inovia holdings pty limited

Click here

EXcellent results ths morning and encouraging noises about 2013/14. This company another example of the best tending to have the quietest threads!

Ex-divi wed 22nd Jan 2014 (15.75p)

Splendid year end trading update today. 11 year track record of sales, profit and dividend increases likely (divi yet to be confirmed).Despite currency heafwinds, sales increase this year over 20% following large acquisition Sept 2013, after which the share price got a bit ahead of itself - best feature imo is cash in bank over £22M after buying new F/D £4.3M. This has been an excellent cash generator and hopefully more to come. Perhaps there is some quality on AIM!

A solid, if not fantastic, half year announcement once again from this very well managed company so am not sure why the stock is down 11% and 20% this year!

Sure, the stock is trading at 17x this year’s earnings but what isn’t that offers a decent yield!

New free commentary at http://tinyurl.com/lmu97c9

We’re hunting for bargains in what many consider the more boring end of AIM – solid, well-established profitable businesses, that have consistently delivered excellent returns over the long term.

RWS hasn’t been the growth engine of old over the past couple of years and there are clear concerns surrounding the impact of the European Union Patent but the growing cash balance (£21.5m) and dividend (yield 3.8%) continue to have its attractions.

With the shares now trading at a more modest 16x estimated earnings for 2015 the rating is far more encouraging.

Read more about RWS and our hunt for bargains at http://tinyurl.com/osaj5k7

Very interesting looking acqusition announced today. Previous purchase of online patent filer inovia took RWS into largely uncharted territory and has taken longer than hoped for to settle in, but CTi deal today in the area RWS knows best. It should be "immediately and significantly earnings enhancing" - much better imo than having cash in the bank at present, but always dyor.

Hi microscope. RWS has served me well for over 8 years. Straightforward business to understand, well run, highly cash generative and divi increased every year. Much depends for decent future profit growth on success of the CTi acquisition, but gut feel is that it might be very good indeed. Hope so - best of luck with it, I intend to keep all mine. Never been a fan of charts, but reassured by your comment!

micro - bought my first share in 1972 and learned a long time ago that the best way to make money is to buy decent quality at a fair price and hang on to it, top slicing occasionally to release some cash. Sounds very Buffett like, but it has put my two kids through private education and debt free University and with nearly all my holdings now in ISA wrapper the rewards can be significant. Many AIM shares also out of reach of IHT calculation under present rules when held for at least two years and that is a bonus for me (or my family!). Among my larger holdings are ANP, JHD, LTHM and TFW, as well as RWS, which I believe will all come in this category. All have more than doubled since purchase. After a poor first half, RWS had a good run towards the end of 2015 after better than expected results and the CTi deal. It has retraced a bit with the market in turmoil - not sure where your entry price is, but AGM is coming up shortly and we should learn more about prospects then - question is, do you decide before or after?

No problem, micro - this is a long term game. My strategy not too clever last couple of weeks, worst since 2008/9, but seen it all before and chances are that the market will recover in time. Cannot argue with not rushing in at present, though. Have you ever looked at RWS chairman Andrew Brode's other listed interest LTG? I hold much smaller position there than in RWS (much riskier in my view) but recent contract win might prove very lucrative in a couple of years time.

Excellent trading update at AGM yesterday. Recent acqusition CTi bought on 10x expected 2015 EBITDA earnings of $7M - unaudited figs suggest $8.5M. No further payments due to vendors and this business very much in RWS comfort zone (unlike previous purchase inovia a couple of years or so ago). Augurs well for 2016, albeit around half of CTi sales said to be "lumpy", so 2016 may see a dip. With borrowed money very cheap, however, a much better investment for them than cash on deposit. Should also give cross selling opportunities with RWS business in Europe. Core business plodding on nicely and inovia now seems fully integrated. Weak sterling an added bonus in the short term at least. I like, but always dyor.

Bit disappointing to see sale of most of sizeable options exercised by CEO, but nevertheless his holding now increases from previous very modest level to over 220K shares. Exec chairman and 42% shareholder Andrew Brode is on the Remuneration Committee and imo keeps fair rein on pay for his co-directors.

Very strong half year trading update. Recent acquisition looking excellent and medium/long term story intact. I have top sliced a few held outside ISA, but will buy back in new ISA year on any weakness.Always dyor.