RWS (RWS) reported record revenue for the first half, up 10 per cent on a constant currency basis, pushing the shares to a 19-year high.
IC TIP:
Buy
at
570p
Following its integration and rebranding, higher demand for localisation services from top technology clients helped boost margins at Moravia, where underlying revenue was up 10 per cent. Together with an improved performance from life sciences, group adjusted pre-tax profit is expected to increase by almost a quarter to £35.5m.
The 13 per cent revenue increase in IP services (excluding foreign exchange impacts) reflects the group’s progress in growth areas such as patents and Asia Pacific expansion.