Business
Interim Results
Interim Results.
About this update from Rws Holdings Plc
[{"type":"text","content":"\n RNS Number : 6940V RWS Holdings PLC 02 June 2008 \n \n\nRWS GROUP\n 2 June 2008\n\nRWS Holdings plc\n\nInterim results for the six months to 31 March 2008\n\nRWS Holdings plc, Europe's leading provider of intellectual property support services (patent translations and technical searches) and technical translations, today announced its interim results for the six months ended 31 March 2008.\n\nFinancial Highlights:\nAnother period of strong growth\n\n\nSales for the period increased by 19.3% to £26.9m (2007: £22.6m)\n\n\nProfit before tax* for the period rose by 25.9% to £6.8m (2007: £5.4m)\n\n\nStrong operational performance enhanced by favourable exchange rates\n\n\nNormalised earnings per share* were up 29.4% to 13.2p (2007: 10.2p) \n\n\nInterim dividend increased by 16.3% to 2.5p (2007: 2.15p)\n\n\nCash generation from operations resulted in net cash at period end of £17.9m, after acquisition costs of £5.8m\n\n\n * before amortization of intangibles\n\nOperational Highlights:\nResilient performances across the Group\n\n\n\nGood progress in core patent translations business; new client wins in Europe and USA \n\n\nEarly integration of Document Service Center, acquired in February 2008, proceeding to plan\n\n\nPatBase subscription revenues grew by 56%; ahead of expectations\n\n\nContinued improvement in staff productivity across the business\n\n\n\nCurrent Trading & Outlook:\n\n\nStrong trading in the early weeks of the second half of the year\n\n\nEuro exposure fully hedged at favourable exchange rates until 30 September 2008\n\n\n\nExecutive Chairman Andrew Brode commented:\n\n'The Group has again achieved record results, which reflect strong organic performances across most of the Group's activities enhanced, towards the end of the reporting period, by the acquisition of DSC.\n\n'As the economic climate becomes more challenging, our strong financial position and market leadership position us well to continue to grow our share of the highly defensive intellectual property translation and services market. We have experienced strong trading in the opening weeks of the second half and 1 May 2008 saw the implementation of the London Agre...