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RWS Holdings PLC (RWS)

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Tuesday 13 February, 2018

RWS Holdings PLC

AGM Statement

RNS Number : 6374E
RWS Holdings PLC
13 February 2018
 

 

 

13 February 2018

 

RWS Holdings plc

 

AGM Statement

 

RWS Holdings plc ("RWS", "the Group"), one of the world's leading language, intellectual property support services and localisation providers, is today holding its Annual General Meeting at which Andrew Brode, Chairman, will make the following remarks:

 

"The financial year ended 30 September 2017 saw the fourteenth successive year of growth in Group sales, underlying profits and dividends since flotation in 2003.

 

"The current financial year has started well as we continue to build on this record performance, with our Patent Translation & Filing, newly formed Life Sciences, and Information divisions all contributing in line with our expectations. 

 

"In addition, RWS acquired Moravia on 3 November 2017 for a cash consideration of US$320 million.  Moravia is one of the leading providers of technology enabled localisation services to some of the largest technology companies in the world.  Its acquisition enhances RWS' global presence, adding operations in the Czech Republic, USA, Japan, China, Argentina, Hungary and Ireland; provides further geographic and currency diversification; and adds an additional profitable, cash generative division of scale to the Group.

 

Current Trading and Outlook

 

"The Group has performed in line with the Board's expectations in the first quarter of the current financial year.  Our focus now is upon the integration of Moravia together with the successful exploitation of the opportunities provided by our recent acquisitions.

 

"Notwithstanding US exchange rate headwinds, the Board is confident of further substantial progress in 2018 as RWS consolidates its global leading positions in its chosen sectors."

 

For further information, contact:

 

RWS Holdings plc

Andrew Brode, Chairman                                                                                                  01753 480200

Richard Thompson, Chief Executive Officer

 

MHP

Katie Hunt / Simon Hockridge                                                                                           0203 128 8100

 

Numis

Stuart Skinner / Kevin Cruickshank (Nominated Adviser)                                                    0207 260 1000

Michael Burke (Corporate Broker)

 

 

 

About RWS:

 

RWS is the world's leading provider of intellectual property support services (patent translations, international patent filing solutions and searches), a market leader in life sciences translations and linguistic validation, a leading localisation provider, and a high level specialist language service provider in other technical areas, providing for the diverse needs of a blue-chip multinational client base from Europe, North America and Asia.  RWS is based in the UK, with offices in Europe, the USA, China, Japan, Latin American and Australia, and is listed on AIM, the London Stock Exchange regulated market (RWS.L).

 

For further information, please visit: www.rws.com

 

This announcement contains inside information, which is disclosed in accordance with the Market Abuse Regulation, which came into effect on 3 July 2016.

 

 

Forward-Looking Statements

 

This announcement contains certain statements that are forward-looking statements. They appear in a number of places through this announcement and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated.  The forward-looking statements reflect knowledge and information available at the date of preparation of this document and, unless otherwise required by applicable law, the Company undertakes no obligation to update or review these forward-looking statements.  Nothing in this announcement should be construed as a profit forecast.  The Company and its directors accept no liability to third parties in respect of this document save as would arise under English law.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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