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RWS sees Covid-19 hurdles and opportunities

After revenues slipped in the first half, the intellectual property and localisation specialist has guided that Covid-19 could hit sales in the rest of the year
April 8, 2020

An update from RWS (RWS) indicates revenue in the six months to 31 March decreased by 2.5 per cent at constant currencies to £172m. The language, intellectual property (IP) and ‘localisation’ specialist said some clients deferred projects in the second quarter and there was lower-than-expected activity in IP services and the life sciences division.

IC TIP: Buy at 463p

In recent days, the group has observed higher demand in Moravia and life sciences, as it helps with clinical trials for Covid-19 vaccines, translates more material and provides additional support for technology customers that are seeing more use of their social networking platforms during the pandemic.