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RWS Holdings PLC - Buckinghamshire, England-based technology-enabled language services provider - Says outlook for financial 2023 remains in line with market expectations, supported by new client wins and continued strong retention among existing clients. Expects revenue in the range of GBP771.8 million to GBP782.6 million, Market consensus stands at GBP779.2 million. Expects adjusted pretax profit in the range of GBP127.9 million to GBP136.5 million, with a consensus of GBP133.3 million.
Back in December, RWS reported revenue of GBP749.2 million for the year ended on September 30, up 8% from GBP694.5 million. Pretax profit jumped 51% to GBP83.2 million from GBP55.0 million. On an adjusted basis, pretax profit rose 17% to GBP135.7 million from GBP116.4 million.
RWS Chair Andrew Brode says: "The group continues to focus on delivering its medium-term strategy, despite the continuing macroeconomic challenges. 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."
Current stock price: 361.40 pence each, down 1.6% on Wednesday morning in London
12-month change: down 21%
By Xindi Wei, Alliance News reporter
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