Asian business supports modest growth at patent translator RWS
Patent translation and intellectual property support services provider RWS has posted modest growth in revenue for the financial year ending September 30th 2012.
Patent translation and intellectual property support services provider RWS has posted modest growth in revenue for the financial year ending September 30th 2012.
Group revenue rose to £68.8m compared to £65.4m year-on-year. Gross profit rose marginally to £29.2m from £28.5m a year earlier. Profit from operations rose to £16.2m from £15.5m. Pre-tax profit rose to £16.6m from £15.6m.
The group's operations are based in the UK, Continental Europe, Asia and the US. Services for customers based in Continental Europe generated the greatest proportion of turnover, approximately 63%, amounting to £43.5m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Asian growth supporting group sales
The group also reported strong increases in business in its Chinese and Japanese businesses, which delivered 80% and 42% increases in profits respectively.
In a statement, Andrew Brode, Executive Chairman stated:
"The group delivered strong cash generation, profit growth and a double digit increase in dividends, whilst having continued to invest in the future of the business, despite a challenging ecnomic environment.
"We are particularly pleased with our recent progress in strengthening our new business pipeline with wins including the renowned Japanese consumer electronic products group, a leading Japanese pharmaceutical company... and a UK-based top tier intellectual property law firm."
He added: "Work from US clients has driven the growth in Group's Beijing patent translation service. It has increased its share of a contrct with an international patent body through its ability to provide high quality work. These factors have led to a 58% increase in revenues and an 80% increase in profits... similarly our Tokyo-based patent translation activities increased revenues by 18% and profits by 42%."
RWS's share price was down 0.68% to 580p at 11:32 on Thursday morning.
MF
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
How to invest in nuclear power
We need nuclear power to go green, says Dominic Frisby. But there is a better option than huge power stations
By Dominic Frisby Published
-
Chase slashes its easy-access savings rate – is it time to switch?
The Chase easy-access savings account has proved popular with savers thanks to its competitive rate and bonus deals. But, as the rate has dropped, has it lost its charm?
By Katie Williams Published