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.
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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.
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