Technology-enabled language provider RWS has registered a 66 per cent increase in its adjusted profit before tax, going up to £116.4m from £70.4m last year.
In its results for the year ended 30 September, the company’s basic earnings per share surged 20 per cent, going from 19.9p to 23.8p.
RWS has reported a healthy balance sheet, including £16.4m in cost synergies and a 10.50p final dividend – a 17 per cent increase in the total dividend. Revenues have also gone up 95 per cent, from £355.8m to £694.5m.
“The Group has delivered a strong set of results against the background of the Covid-19 pandemic and integrating SDL,” said RWS’s chief executive Ian El-Mokadem.
RWS finalised the acquisition of software company SDL in November for $1.1bn.
“All our divisions grew revenues on an organic constant currency basis and we are particularly pleased with the pace and effectiveness of our integration of SDL, which contributed to a better than expected profit performance,” he added.
“With a healthy balance sheet to support the group’s strategy, I am excited about the plans we are developing to build on RWS’s longstanding track record of delivery, as we capitalise on the group’s expanded scale, footprint and capabilities following the acquisition of SDL.
Commenting on the results, Edison Group’s TMT managing director Dan Ridsdale said: “With the group granting a full-year dividend of 10.5p per share, shareholders will be encouraged, especially in light of RWS’ growth following its acquisition of SDL, a move which will only continue to expand the group’s leading position in the sector in the coming years.”
Despite the encouraging results, the company’s shares today took a 4.60 per cent dive, going to 601p.