RWS Holdings profit up 17% as Moravia acquisition boosts sales
Source - SMW
Intellectual property support services provider RWS Holdings booked a 17% rise in annual profit, boosted by its acquisition of language services group Moravia.
Pre-tax profit for the year through September grew to £39.7m, as revenue jumped 87% to £306.0m.
The company declared a final dividend of 6p per share, up 15% on-year.
RWS completed its acquisition of Moravia in November 2017 and said the business had significantly enhanced its earnings, contributing to a 22% increase in adjusted earnings per share.
RWS said it had made a 'very good start' to the 2019 financial year, with a 'strong' performance in the first two months that supported expectations of 'another record year'.
Chairman Andrew Brode said the company had a strong enough balance sheet to take advantage of further acquisition opportunities as they arose.
'We have made a very good start to the new financial year and we look forward to 2019 with confidence,' Brode said.