RWS expects 85% increase in FY revenue on Moravia purchase in "best year ever"
Source - SMW
RWS Holdings said on Thursday it expected full-year Group revenues to be at least £305m, an increase of over 85% year on year, driven primarily by the acquisition of localisation services provider Moravia last November.
The company this had been "by far its best year ever" as it also saw solid performances across the Group's activities, and a favourable recovery in currency in the second half.
RWS said it anticipated that adjusted pre-tax profit would also have grown strongly and be slightly ahead of market expectations in line with improved margin in its IP support services business and a "markedly improved" second-half performance at Moravia.
"This has been a transformational year for RWS, underpinned by a strong financial performance. We have successfully completed the integration of our two life sciences acquisitions, and acquired and assimilated Moravia, establishing the Group as a leading global language services provider," said Andrew Brode, Chairman of RWS. "There is increasing momentum across the business which underpins our confidence in delivering further significant progress in the new financial year," he added.
The company said it would announce its full-year results on 11 December 2018.
At 8:26am: (LON:RWS) RWS Holdings PLC share price was +19.5p at 482p