RWS Holdings’ profit more than doubles as firm navigates pandemic
RWS Holdings today said its first half adjusted pre-tax profit surged by 53 per cent to £50.5m as the firm navigated the pandemic to recover in its core markets.
The company, which provides tech-enabled content management services, also saw its underlying revenue grow by three per cent.
RWS Holdings’ acquisition of SDL further provided the company with industry leading technology and made it the largest provider of language services in the world.
Following the half year update, shares in RWS Holdings fell 2.5 per cent as markets opened.
Andrew Brode, chairman of RWS, said: “It has been a transformational six months for the group, with the acquisition of SDL positioning us as the global leader in language services and technology.
“Against the backdrop of a global pandemic, the integration has progressed rapidly, and to schedule, with a strong management team in place to complete the integration plans.”
Delivering its half year interim results, RWS Holdings also announced that its CEO Richard Thompson will step down after nearly nine years with the group.
Thompson will leave the company to pursue other interests and will be succeeded by Ian El-Mokadem.
“I would like to thank Richard for his significant contribution over the last nine years, during which time he has helped to grow RWS from a £240m market capitalisation in 2012 to over £2.5bn today,” Brode added.