RWS Holdings PLC - Buckinghamshire, England-based technology-enabled language services provider -
Doubles half-year profit as technology product business grows stronger than expected. Pretax profit in the six months that ended March 31 jumps to £32.9 million from £14.9 million a year ago. Revenue climbs 9% to £357.3 million from £326.4 million.
Declares an interim dividend of 2.25 pence, up 13% from 2.0p a year ago.
‘We have seen good growth in technology product revenues compared with the prior period, including an increased uptake of SaaS solutions, ahead of our expectations and the prior period. We are making the planned investments in the core technology and artificial intelligence products,’ explains Chief Executive Officer Ian El-Mokadem.
‘RWS remains in a strong position to make the investments announced in March, fund further acquisitions and maintain a progressive dividend policy,’ company says. Firm sees encouraging progress on plans and investments such as a business partnering model being implemented in the firm’s production platform.
Current stock price: 380.80 pence, down 0.5% on Thursday
12-month change: down 38%
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