Rws Share Discussion Threads

[up in smoke] 09/10/2009 12:07

I will buy some @ 200

[bigboyo] 09/10/2009 11:33

back to 200 ?

[up in smoke] 05/10/2009 16:27

Almost a breakout target 400p?

[phillis] 11/9/2009 13:14

Hoping for a bit of a run up before the October trading statement

Wonderful yield upside

[hieronymous1] 30/8/2009 08:25

I suppose the thing to do is put in an offer within the spread and see if anyone bites. The likes of Selftrade also have a system of getting competitive quotes from all dealers in the company's shares which they call price improvement or dealing within the yellow strip. It sometimes saves a few pounds.

[jeffian] 23/7/2009 11:47

Well this has been toodling back up nicely over the past few days.

[phillis] 04/6/2009 16:45

Nicely on track

Imagine all those increasing future dividend flows in to a tax free holding!

[orange1] 03/6/2009 07:27

This from the FT:



The article refers to the point I made in my previous post about a possible fall in applications:

"Earnings are still based on a backlog of patents from as far back as 2005, and it won't become clear until 2011 whether the recession has caused companies to cut back on patent activity, said Mr Brode, who holds 45 per cent of the stock.

"Our thesis is that people don't cut back on research and development in a recession," he said. "That's how it's been in previous recessions but whether it's like that in one as deep as this, I'm not sure.""

As stated, my understanding is that there has been a cutback in patent activity in the year to date.

[orange1] 02/6/2009 14:07

Worth keeping an eye out for patent application trends. The situation as of 17 March 2009 is detailed here:



But what is the situation as of now and what will it be in the months to come? Not as good is what I have heard.

[jeffian] 02/6/2009 10:58

Nice results again. Looks like we're on a current PER not much more than 10 for this year ('normalised' earnings; significantly less for headline figure), cash generative and nearly £25m in the bank even after acquisitions. Outlook good too, though I'm not sure this makes sense! ("...we expect the second half
to exceed the Board's expectations.")

Regards, Ian

[phillis] 14/5/2009 09:38

I like the way the price is firming up

[jeffian] 15/4/2009 10:46

What a cracking Trading Statement. I wish all my investments produced statements like that!

[phillis] 15/4/2009 10:31

Did not disappoint.

This share with its wide spread is obviously not attractive to the T10 brigade and doe not attract many posters, but what a wonderful little company.
A world leader in the field, the ability to generate cash and a sound strategy.

In the short term the currency position offsets any downturn in volume, but long term all companies cannot afford to neglect investment in IP.

One to tuck away...and keep tucking away!

[phillis] 14/4/2009 16:19

trading update tomorrrow

[5dally] 04/3/2009 10:32

Can't buy many of these online, the spread may put some off but this is IMO a buy and hold, will wait and see if I can get a bigger chunk later

[phillis] 04/3/2009 10:25

onwards and upwards (slowly)

[egoi] 04/3/2009 09:49

Taken with the tax refund this effectively adds up to a freebie, is immediately earnings enhancing - and still leaves over 2 million from the taxman!

Take these two stories together...............

RWS receives £4.4m profits boost from taxman.
20/2/09

IP support translations services firm RWS HOLDINGS has received a £4.4 million boost to profits from the Revenue.

HMRC has agreed the company was entitled in its 2004 tax return to use up to £20 million of capital losses which arose in Health Media Group, prior to the reversal of RWS into Health Media in 2003.

'The effect of the agreed loss position 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, all of which are non-cash items,' says RWS...........

AND Today:

2.1m Acquisition of UK Specialist Translations Business

RWS HOLDINGS PLC("RWS", "the Group"), Europe's leading provider of intellectual property support services (patent translations and technical searches) and technical translations, is pleased to announce the completion of the acquisition of the entire
issued share capital of Communicare Limited ("Communicare") for a cash consideration of �2.1 million.

The acquisition is in line with RWS's stated strategy to complement organic growth by deploying the Group's cash resources for selective acquisitions which have demonstrable growth prospects and enhance shareholder value.

Communicare's latest financial statements for the year ended 31 December 2008 show turnover of �2.2 million and adjusted profit before tax of �591,000. Net assets acquired were less than �100,000. The acquisition will be immediately earnings
enhancing.

Nice freebie!

[phillis] 02/3/2009 08:23

Amazing what you can find out just by reading RNSs

[stevie blunder] 01/3/2009 10:42

Segmental information is on page 10 here:



Out 54 million turnover last year, 8 million was UK, 39 million EU, and the remainder Asia and US. There will be a substantial positive currency effect if sterling stays weak, as average Euro rate last year was 1.30.

I understand that the largest part of their business is translating into English for patent filing in the US ( sorry I don't have a link)

[melody9999] 28/2/2009 22:26

Looks an interesting share. On initial analysis, one would have thought the London agreement would have a significant impact. Why is that not the case? Does anyone know what proportion of RWS biz is conducted inside the EEC?

[phillis] 20/2/2009 07:53

yes - much reduced tax bill going forward

[jeffian] 20/2/2009 07:52

This look quite useful.

"HMRC agrees capital loss claim

....The effect of the agreed loss position 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, all of which are non-cash items...."

[phillis] 19/2/2009 17:57

so try a little tree shake....