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(Alliance News) - RWS Holdings PLC on Wednesday said it is trading in line with expectations, as a robust performance by its Language Services and Regulated Industries divisions offset a weaker start to the year by its IP Services arm.
The company is a Buckinghamshire, England-based provider of technology-enabled language, content and IP services.
RWS said that it started financial 2022 "well" and is trading in line with expectations. The weaker performing IP Services segment represented 16% of revenue in financial 2021, RWS noted. The company's financial year ends September 30.
RWS noted that its "strong" cash generation and balance sheet continue to support its plans to invest for growth, organically and through acquisitions. This includes investments in software and internal systems, as well as in selective acquisitions to enhance its capabilities and geographical reach.
According to company-compiled market consensus, RWS is expected to generate revenue of between GBP744.8 million to GBP770.7 million in financial 2022, with a consensus of GBP761.2 million. Annual adjusted pretax profit is forecast between GBP131.5 million and GBP144.8 million, with a consensus of GBP140.0 million.
In financial 2021, RWS reported pretax profit of GBP55.0 million and adjusted pretax profit of GBP116.4 million on revenue of GBP694.5 million.
Shares were up 1.6% at 465.30 pence each on Wednesday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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