RWS profit 'modestly' below consensus

9th Oct 2009 07:15

Intellectual property group RWS Holdings said underlying full-year profits will exceed 2007/08 levels but fall 'modestly' below consensus.As a result of significantly lower deposit rates, particularly compared to the second half last year, interest income will fall well short of initial budgets. The group added that revenue and pre-tax profits will still achieve new record levels, thanks to the Euro being considerably stronger than in the previous year. 'Our strong financial platform provides an excellent base for an enhanced level of growth in the year ahead,' said executive chairman Andrew Brode.