The provider of intellectual property support services said it saw good momentum from client wins in 2013 during the first half of the year, with further strong growth in
RWS said trading in the first two months of the second half of the year has been good despite continued sterling strength, and said it has an encouraging pipeline of opportunities in its patents business, and expects 2013 client wins to benefit more in the second half of the year, compared with the first half.
"Our financial position remains strong, and we have an encouraging pipeline of new business opportunities to exploit. We, therefore, expect continued progress in the second half of the year and beyond," said Chairman
Signalling its confidence despite the profit decline, the group raised its interim dividend by 9% to
RWS reported a pretax profit of
RWS said the 2013 first half result benefited from an unrealised gain on the US dollar balances held for the completion of the acquisition of Inovia Holdings Pty. The net effect of this is a year-on-year negative exchange rate movement of
Revenues in the first half rose 28% to
RWS said it also benefited from a bigger revenue contribution from Inovia, having acquired the remaining two thirds of the business in September last year, although it said profitability in the business was held back by a shift in customer mix and restructuring costs.
"Our information division performed exceptionally well, primarily due to a welcome recovery in demand for search services as well as continued progress in PatBase subscriptions," the company said in a statement.
RWS said its commercial translations, which accounts for approximately 17% of group sales, saw flat revenues, although it said it has focused on more attractive specialist niches in response to a competitive environment in both in the
RWS said it held net cash of
RWS shares were trading 2.4% lower early Monday, at
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