StockMarketWire.com - Language and intellectual property support services group RWS booked a 6.3% fall in first-half profit but held its dividend steady amid a 'limited' impact from the Covid-19 crisis.

The company also announced that it had acquired Dublin-based machine translation group Iconic Translation Machines for $10m, with additional deferred consideration of up to $10m in shares, plus Indian counterpart Webdunia.com for $21m.

Pre-tax profit for the six months through March decreased to £25.8m, down from £27.6m on-year, as revenue fell 1.6% to £169.7m.

RWS held its interim dividend steady at 1.75p per share, which it said reflected confidence in its future prospects.

The company said it was seeing an overall limited impact on customer demand during the pandemic.

Increased activity from large technology clients and life sciences clients, who were working on vaccines and antibody testing, was offset by some impact on IP services, including slower onboarding of new clients.

Trading performance since the period end had been 'good', with a very strong result in April, and strong sales in May.

'It remains difficult to predict with accuracy the likely financial impact of Covid-19 on the operations of RWS and we therefore believe it is prudent to continue to refrain from providing financial guidance for the full financial year,' the company said.




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