RWS, the leading patent and technical translations service provider, announced in a trading update that it expects to show sales of £32.4 million (2010: £29.4 million) in H1 to March 2011, with profits comfortably on course to deliver market expectations for the year as a whole. According to the company’s February broker’s note, FY 2011 EPS is expected to be 26.8p. The company’s cash position remains good, with period end net cash at £19.8 million.
Industry data seems to indicate a recovery in patent filing. The European Patent Office has published figures showing that the number of European patents applied for in 2010 increased by 10% over 2009. In March 2011, the European Court of Justice ruled that the proposed plans for a European and Community Patent Court were not compatible with the provisions of EU law. This reduces the near-term likelihood that an EU-wide patent would be widely adopted by major corporations to protect their IP because it would not have a single court responsible for dealing with disputes.
RWS also noted that its German technical translations business is recovering after a tough couple of years, and its PatBase patents subscription service enjoyed a strong renewal period in January. The company has also successfully completed its facility consolidation effort, having moved four offices into a central headquarters in South Buckinghamshire.
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