The RWS Holdings plc Board recommends a final dividend of 10p per share. Together with the interim dividend of 2.45p per share, this will result in a total dividend of 12.45p for the year, an increase of 2% compared with FY23. Subject to final approval at the AGM, the final dividend will be paid on 14 February 2025 to shareholders on the register at 17 January 2025.
Other financial highlights include:
Revenues were flat year-on-year on an OCC basis and declined 2% on a reported basis, due to FX
Gross margin improved to 46.9% (FY23: 46.3%), reflecting group restructuring and broader cost control efforts and continued efficiency benefits from greater use of the LXD, more than offsetting FX headwinds and adverse mix
Adjusted profit before tax ("Adjusted PBT") declined 11%; adjusted PBT margin of 14.9%, down from 16.4% in FY23, principally reflecting reduced activity in certain higher margin end markets, compounded by adverse effects from foreign exchange, partially mitigated by efficiency gains
Reported profit increased to £60.0m, driven by lower impairment charges and lower exceptional charges primarily related to group restructuring, as well as the profit on sale of PatBase
The Group further strengthened its balance sheet with the disposal of its interest in PatBase, receiving £25m in initial cash consideration in May and £5m of deferred consideration in November
51% cash conversion, driven by peak investment in transformation and working capital movement
Modest net debt of £12.9m at 30 September 2024 (FY23: £23.6m net cash) includes payment of £46m of dividends, £30m of share repurchases, £46m of capex and £25m from the sale of PatBase
