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Intellectual support services provider RWS full year profit below consensus, shares tumble

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Shares in RWS Holdings (AIM: RWS) came under pressure today after the intellectual support services provider said underlying profits for the full year will be below consensus due to falls in interest income due to lower deposit rates, but will still mark an improvement over the previous year.


On a positive note, RWS said margins were improving and its balance sheet remained strong with shareholder funds of £46 million and net cash of £24 million after spending £3 million on acquisitions during the year, which afforded the company “ample scope and flexibility to increase returns through suitable acquisitions,” also enabling it to increase the final dividend for shareholders, payable February 2010.


The previous full year dividend amounted to 7.9 pence per share.


Shares in RWS tumbled more than 10% immediately following the release of the update, but its losses were then trimmed to just 3%.

Quick facts: RWS Holdings

Price: 599 GBX

AIM:RWS
Market: AIM
Market Cap: £1.65 billion
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