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RWS Holdings PLC (RWS)

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Tuesday 09 February, 2016

RWS Holdings PLC

AGM Statement

RNS Number : 4328O
RWS Holdings PLC
09 February 2016
 

 

 

 

 

                                                                                                                               9 February 2016

 

RWS Holdings plc

 

AGM Statement

 

 

RWS Holdings plc ("RWS", "the Group"), the world's leading provider of intellectual property support services (patent translations, international patent filing solutions and searches), commercial translations and linguistic validation, is today holding its Annual General Meeting at which Andrew Brode, Chairman, will make the following remarks:

 

"The financial year ended 30 September 2015 saw the twelfth successive year of growth in Group sales, underlying profits and dividends since flotation in 2003.

 

"RWS acquired Corporate Translations Inc ("CTi") on 30 October 2015 for a cash consideration of US$70 million.  CTi is the world's leading translation company focussing exclusively on life sciences translation and linguistic validation.  This acquisition not only elevates the Group to a market leading position in Life Sciences language services, but also establishes a significant Group presence in the USA, regarded as the largest growth opportunity for RWS. In addition, RWS' strong base in Europe will support CTi's expansion into the European life science sector.

 

"The integration of CTi with the Group's other life science activities is progressing well and CTi is expected to deliver a 43% increase in sales for the year ended 31 December 2015 to US$33 million (2014: US$23 million) and an EBITDA of not less than US$8.5 million (unaudited).

 

Current trading and outlook

 

"The Group has performed significantly ahead of the Board's expectations during the first three months of the current financial year. This has reflected an excellent quarter for the fully integrated patent translation and filing division, including inovia and a strong two months' contribution from CTi.

 

"With currency also shifting in the Group's favour, the Board is confident of significant progress in 2016 and expects RWS to further consolidate its market leading positions in its chosen sectors."

 

 

For further information contact:

 

RWS Holdings plc

Andrew Brode, Chairman                                                                                              01753 480200

 

MHP

Katie Hunt / Simon Hockridge                                                                                      020 3128 8100

 

Numis

Stuart Skinner / Kevin Cruickshank (Nominated Adviser)                                                020 7260 1000

James Serjeant (Corporate Broker)

 

 

 

 

About RWS:

 

RWS is the world's leading provider of patent translations and one of the leading players in the provision of intellectual property support services and high level technical, medical, commercial, legal and financial translation services and linguistic validation.  Specialist divisions provide for the diverse needs of a blue-chip multinational client base from Europe, North America and Asia in the aerospace, automotive, chemical, defence, electronics, financial, insurance, legal, pharmaceutical, telecommunications and the life science industries.  RWS is based in the UK, with offices in Europe, the USA (New York, Connecticut and Chicago), Tokyo, Beijing and Sydney, and is listed on AIM, the London Stock Exchange regulated market (RWS.L).

 

For further information please visit: www.rws.com


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