Rws Share Discussion Threads

[bigboyo] 14/10/2008 10:40

Hieronymous1

So presumably, Russian actions in expropriating various oil assets makes it a better place to invest ! Do you have an agenda ?

[phillis] 14/10/2008 00:08

Me too. Too good to miss.
A cople of hundred thou offloaded last week so still some left

[badtime] 13/10/2008 21:21

Nibbled at a few ...loads of buys no movement..hmm..distressed seller around?

[hieronymous1] 10/10/2008 21:11

Bigboyo

I ought to be anti-Russian because some of my ancestors were murdered by Cossacks in 19th century pogroms. Despite this I was once in the British-Soviet Friendship Society, then patron Sir Edward Heath, our former Prime Minister.

My point is that emotions affect business decisions, the whole international market is currently gripped by irrational fears. Politics affect the legal framework, economic certainty and many other things which make business possible. In the real world politics and business are inseparable. Why do you think so many businessmen offer their services as local councillors, board members of NHS Trusts, charities and so on? Altruism is often part of it but so is the networking opportunity.

As for India, Tata has moved production of its Nano car from West Bengal to Gujarat after violent riots incited by local politicians. This after the factory was almost completed. Another mob attacked managers of Graziano Trasmissioni near Delhi, killed one and hospitalised others. Personally I regard these things as objective business reasons for not investing in India. Do you know how to run a business after you are dead?

The Russians, Brazilians and Chinese have not engaged in quite such extreme behaviour recently.

[jeffian] 10/10/2008 14:24

It is ludicrous, isn't it? It was almost certainly the effect of those few words ("...although underlying profits are expected to be marginally below consensus.") without reference to the fact that we have a company with strong growth, good prospects going forward and (weyhey in these credit-crunched times) no borrowings and cash in the bank. The business about the London Agreement has been known about for ages and they have a strategy in place to deal with it, but it doesn't take much to spook the market these days. Single-figure PER must make this a buying opportunity but with the markets like this, who's to say it won't get worse before it gets better?

As for those pre-statement falls (see post #68 above), it now seems that someone had wind of this. Will the regulatory authorities look at it? Will they hell!

Regards, Ian

[wjccghcc] 10/10/2008 10:44

It was a (slight) warning with profits marginally below expectations. It also looks like the effects of the London Agreement are going to be felt more going forward.

[up in smoke] 10/10/2008 10:02

staggering - that is the fall in the share price today on a positive statement or am I misreading this ?

[bigboyo] 10/10/2008 09:18

Hieronymous1

business and politics do not mix -- your post above is political and emotional -- are you russian by any chance ?

[hieronymous1] 08/10/2008 14:00

I opine that there are two factors: firstly it is one of the few stocks left where a significant profit is still there for longer term investors so those who hate to realise losses are selling and, secondly it is suffering from the Russia contagion. In other words the sales are illogical. I am holding.

IMHO the Russian economy is one of those best placed in current circumstances followed by China and Brazil. The Indians are too busy murdering industrialists and religious minorities to be a serious growth economy.

[jeffian] 08/10/2008 10:54

I appreciate that it's been a bloodbath generally in the markets but any particular reason for the sudden sharp falls here in the past 2 days? It's stayed pretty firm in the circumstances up til now and I wondered whether it was people locking in profits on those few shares which hadn't already collapsed, but the sharp markdowns seem to be on no/low volume. Any thoughts?

Regards, Ian

[flyfisher] 05/9/2008 12:39

despite the impact of the london agreement, house broker numis is forecasting a 20% increase in eps. at the interim stage the company was trading strongly, should be a trading update in a few weeks.

[jeffian] 08/6/2008 14:02

Also rated a "Buy" in this week's IC (Companies Results section).

"Protecting intellectual property rights is a highly defensive and rapidly growing sector. RWS is ideally positioned, with no competitors on its own global scale. So, while the shares are up on our buy recommendation (367p, 7 June 2007), a forward PE ratio of 15 still isn't too demanding. Buy."

[fruitloops101] 08/6/2008 08:36

From thisismoneyuk (Mail on sunday) web site 5 June 08:

Our second recommendation this week is another professional business traded on Aim. But there the similarity ends. RWS provides highly technical translation services to companies around the world. The company focuses on translating patents, a fast-growing but incredibly specialised market, where RWS is a leading player.


The group employs more than 100 translators and checkers directly but it also has a database of around 8000 freelance operators who are called upon when required.


These individuals are incredibly skilled, since they need to really understand the sectors they are working in before being able to translate the patents properly. Most patents are technical, complex and extremely detailed so mistranslation can have catastrophic consequences.


The patent market is growing at a phenomenal rate and is expected to continue to do so for the foreseeable future, as developing countries such as China and India become more involved in research and development and issue patents to support their discoveries. In most parts of the world, there is a legal obligation on anyone filing a patent to translate it into the language of every country where they want the patent to operate.


This situation has helped RWS to grow significantly over the past few years. Recently however, a group of European countries, including the UK, agreed that patents did not have to be translated into the language of every jurisdiction in which they were filed.

Some analysts worried that this would hit RWS's business but so far the group seems to be holding its own, helped by growth elsewhere in the world and other divisions within the group, such as legal translation and a patent database helping companies to find out more about existing patents in their field.


RWS is run by Andrew Brode, who bought into the business when it was privately owned and retains a significant stake. Earlier this week, the company announced six month figures to the end of March, showing a 25% rise in profit before tax to £6.8m. The company also said the second half of the year had started well and analysts are forecasting full year profits of £14.5m against £11.1m in 2007.


Midas verdict: RWS is a tightly-run business and Brode is exceptionally driven. The shares are trading at 380p but should move ahead. Buy.

[jeffian] 04/6/2008 15:12

Nice little jump today. Probably a result of this little piece in today's Times:

"Tiddler to watch

RWS Holdings, the translator and searcher of patents for corporate R&D departments and lawyers, gained 2½p to 383½p after Ian McInally of Arbuthnot began coverage with a "buy" note and 402p target. He said that recent EU legislation will cut demand but its strong cashflow amounts to a 17 per cent yield on its current price."

It all helps!

Regards, Ian

[orange1] 18/5/2008 22:29

Yes Ian and it appears that WINS have been slowly bumping up the price to shake out sellers. So there is a keen buyer out there.

[jeffian] 18/5/2008 18:17

Anyone still out there? New peak achieved in sticky market. Looking good.

REgards, Ian

[jeffian] 31/3/2008 09:05

Good trading statement today.

[orange1] 12/2/2008 07:25

Good value says the Indie:



Buy says the Times:

[liarspoker] 11/2/2008 09:47

One of the better shares to hold for the long term imo. Great returns etc although not looked into management as yet. Had this one on my short list for a long term hold but bought a few cheaper companies with even stronger returns. :O)

Well done to those holding.

[jeffian] 11/2/2008 09:43

Yep, in these troubles times nice to see a management focused on the things they can influence - profits, earnings per share and dividends - rather than fannying about trying to massage the share price via PR and spin. Keep growing the earnings and the market will give you the share price you deserve IMHO.

Regards, Ian

[orange1] 11/2/2008 09:37

Not only that M.T., an earnings enhancing acquisition too.



This is the link to the AGM statement:

[m.t.glass] 11/2/2008 08:58

Good solid trading statement this morning.

[orange1] 01/10/2007 11:56

Brokers WH Ireland have raised their pretax profit estimate for
full-year 2007 to 11.15 mln stg from 10.82 mln and made slight upward
adjustments to full years 2008 and 2009.

They have raised their price target to 387p (from 377p) and upgraded their rating to 'buy' from 'outperform'.

[orange1] 01/10/2007 09:56

The cash balance will be deployed to make acquisitions which will be in the fields of the intellectual property protection and technical translation services. These are two existing parts of the company's business (20% at present).
When this growth by acquisition is added to the organic growth of the rest of the business, the overall growth of the business will be maintained, nothwithstanding the 20% hit caused by the effects of the London Agreement on European translations.

Reading between the lines: acquisition targets have already been identified. The Far East looks like a sound bet.

[wjccghcc] 01/10/2007 09:13

Very true -they should be applauded for not burying their heads in the sand. Having said that, 1mm per half in lost profit will knock 20% off the total. Be interesting to see how they propose to deploy their cash balance to counteract this.