Euro woes hit RWS revenues

Adam Hignett
RWS HOLDINGS is the latest company to warn its group revenues have been hit in recent months due to the current unfavourable euro exchange rate.

The Aim-listed company, which deals in intellectual property services, reiterated it will deliver a solid profit performance in line with management’s expectations.

The euro remains the group’s principal exchange exposure and its current level of below 75p is deemed unfavourable and has hit revenues. The company has since hedged its estimated net trading exposure to the euro at an average rate of 81.0p from January 1 to 31 December 2015.

Shares in the company closed down 3.23 per cent yesterday.