RWS encouraged by strong trading

11th Apr 2011 07:51

Patent translation specialist RWS Holdings said it is encouraged by strong trading in the first six months of the financial year and expects revenues to increase by at least 10% to £32.4m.The company also expects profits for the first half will be comfortably on course to deliver market expectations for the year as a whole."This reflects a strong performance in our patent translations business, which represents approximately 70% of group revenue," RWS explained. Growth was driven by a combination of an increase in the volume of patent translations from existing customers and the phasing in of work from several client wins in 2010.RWS said it had also seen a continued improvement in its technical translations business due largely to a sustained recovery in Germany. PatBase, a part of its intellectual property information business, benefitted from a strong January renewal period for its high margin subscription service.Commenting on the outlook chairman Andrew Brode said, "From our strong financial position, we are well placed to grow our market share in patent translation and benefit from improvements in the technical translations and intellectual property services markets. With our Euro and dollar trading exposure fully hedged for the current financial year we expect to make continued strong progress during the second half of the year."CJ