TIDMRWS
RNS Number : 6304Q
RWS Holdings PLC
22 February 2023
For immediate release 22 February 2023
RWS Holdings plc
AGM Statement
RWS Holdings plc ("RWS", "the Group" or "the Company"), a unique
world-leading provider of technology-enabled language, content and
intellectual property services, is today holding its Annual General
Meeting at which Andrew Brode, Chairman, will make the following
remarks:
"The Company delivered another robust set of results in FY22
against a backdrop of continued economic uncertainty and the
ongoing conflict in Eastern Europe. The Group produced
cash-generative, profitable growth in line with market
expectations, continued its unbroken record of dividend growth and
made good progress on the actions and investments that we set out
at our Capital Markets Day (CMD) in March 2022.
Current trading and outlook
"The Group continues to focus on delivering its medium-term
strategy, despite the continuing macroeconomic challenges. The
investments that we outlined at last year's CMD are progressing
well and we are pleased to have completed the first of our
transformation programmes early in 2023, with a successful move to
a single Microsoft collaboration platform across the whole
Group.
"Our full year outlook remains in line with market expectations
(1), underpinned by a number of new client wins and continued
strong retention amongst existing clients, albeit with certain
projects now expected to start in the second half. While trading in
IP Services continues to be impacted by the advent of the Unitary
Patent (UP), it remains on track for the year, despite a short
delay to the UP's implementation which we now expect will come into
operation in June. These factors, together with the impact of our
growth initiatives, underpin our expectation of an acceleration of
organic growth in the second half.
"We remain pleased with the progress of our investments in
technology where the depth of experience we have in developing and
training AI engines is of increasing importance to our industry and
to our clients. The forthcoming launch of our enhanced AI data
services offering will further position the Group well to
capitalise on the growth of AI solutions as highlighted at our CMD
last year.
" Our unique capabilities, diverse client base, geographical
spread and end-market exposure, combined with our strong cash
generation and balance sheet, underpin our resilience, our
confidence in the opportunities provided by the multiple growth
drivers across our markets, and our ability to make attractive
acquisitions."
1 The latest Group-compiled view of analysts' expectations for
FY 2023 gives a range of GBP771.8m-GBP782.6m for revenue, with a
consensus of GBP779.2m; a range of GBP127.9m-GBP136.5m for adjusted
profit before tax, with a consensus of GBP133.3m, and a range of
24.5p to 26.6p for adjusted EPS, with a consensus of 25.9p.
RWS published its first standalone Environmental, Social and
Governance Report on 27 January 2023. This comprehensive review
sets out our progress in FY22 and is available on the Group's
website ( www.rws.com/about/corporate-sustainability/ ).
About RWS
RWS Holdings plc is a unique, world-leading provider of
technology-enabled language, content and intellectual property
services. Through content transformation and multilingual data
analysis, our unique combination of technology and cultural
expertise helps our clients to grow by ensuring they are understood
anywhere, in any language.
Our purpose is unlocking global understanding. By combining
cultural understanding, client understanding and technical
understanding, our services and technology assist our clients to
acquire and retain customers, deliver engaging user experiences,
maintain compliance and gain actionable insights into their data
and content.
We work with over 80% of the world's top 100 brands, more than
three-quarters of Fortune's 20 'Most Admired Companies' and almost
all of the top pharmaceutical companies, investment banks, law
firms and patent filers. Our client base spans Europe, Asia Pacific
and North and South America. Our 65+ global locations across five
continents service clients in the automotive, chemical, financial,
legal, medical, pharmaceutical, technology and telecommunications
sectors.
Founded in 1958, RWS is headquartered in the UK and publicly
listed on AIM, the London Stock Exchange regulated market
(RWS.L).
For further information, please visit: www.rws.com .
RWS Holdings plc 01753 480200
Andrew Brode, Chairman
Ian El-Mokadem, Chief Executive Officer
Candy Davies, Chief Financial Officer
MHP (Financial PR advisor) rws@mhpgroup.com
Katie Hunt / Simon Hockridge 020 3128 8100
Numis (Nomad & Joint Broker) 020 7260 1000
Stuart Skinner / Kevin Cruickshank / Will Baunton
Berenberg (Joint Broker) 020 3207 7800
Ben Wright / Toby Flaux / Alix Mecklenburg-Solodkoff
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END
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