RWS Holdings: cash still flowing nicely and one to follow in 2010
Europe's leading provider of intellectual property support services (patent translations and technical searches) and technical translations, announced decent preliminary results for the year ended 30th September 2009in what could be viewed as a fairly turbulent year for the world of patent translation.
Sales increased by 2.2% to £55.3m, profit before tax (before amortization of intangibles and exceptional tax credit ) rose by 3.8% to £14.5m and basic earnings per share were up 5 % to 25.2p. The final dividend was 8.85p (2008: 7.9p) resulting in a total dividend up by 12% to 11.65p which equates to a yield of approximately 3.7%. Operating profit of £13.4m resulted in cash generated from operations of £13.6m. Net cash at the financial year end was £24.3m. (2008: £22.1m), after £2.8m of acquisitions and repayment of a £2.4m development loan – you know how we appreciate cash!…