RWS gets a material tax boost and the shares…… fall
RWS the AIM quoted provider of intellectual property support services came out with highly pleasing news that HMRC has agreed the Group's 2004 tax return.
The outcome of this is the release of a £4.4 million tax provision and an increase in both pre and post tax profits of £4.4 million in the six months ending 31 March 2009.
With five years of uncertainty being resolved and shareholder funds materially enhanced one might have expected to see a positive reaction from the share price – wishful thinking, the shares actually dropped approximately 2%!
Never mind, the,…
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