RWS Holdings half year report shows strong operational performance despite fluctuations in currency
RWS Holdings, Europe's leading provider of intellectual property support services and technical translations, today released its half year report for the six months ended 31st March 2010.
Formed over 40 years ago, the company provides specialist technical, legal and financial translation services for industry. The market is a strong one, approximately 1,000,000 patent documents are published every year, 200,000 of which are published in Europe (Source: European Patent Office). The half year report showed many positives, despite the £1.9m hit due to currency fluctuations. Sales were up 10% to £29.4m (2009: £26.8m), while underlying profit (before amortization of intangibles) was up 16% to £6.9m (2009: £5.9m) after eliminating the negative impact of currency fluctuations. However, profit before tax (taking in the same considerations) was down to £6.8m…