RWS eyes strong half-year revenue rise

14th Apr 2014 07:46

- Expects robust half-year revenue increase- Trading picking up as economic climate improves - Strong pipeline of new business opportunitiesIntellectual property support services group RWS said it expects to report improved half year revenue and profit and has a strong pipeline of new business opportunities to exploit.In an update on trading for the half-year ended March 31st, ahead of its half-year results in June, it said revenues for the half year ended March 31st is expected to be around £46.9m compared to £36.7m in the previous year, up 28%. At constant currency rates revenues are approximately £1m higher. Adjusted profit before tax (before amortisation of intangibles and share option costs) for the first half of the current financial year is expected to be broadly in line with the same time a year earlier, up 12%, after taking account of the net £1.3m unrealised foreign exchange gain in the comparative period.Executive Chairman Andrew Brode said: "As the economic climate improves we expect to continue to extend our share of the patent translation and intellectual property services markets. "Our financial position remains strong and we have an excellent pipeline of new business opportunities to exploit. We, therefore, expect further progress in the second half of the year and beyond."CJ