Tuesday preview: RWS Holdings reports first half results

In an April trading update the company said revenues in the first half have been driven by core translations activities, a five-month contribution from newly acquired Corporate Translations and a gradually improving currency tailwind.

The group guided towards adjusted pre-tax profit of £13.8m, compared to £10.8m in the same period a year earlier, supported by improved gross margins and better-than-expected currency movements.

RWS also reported gross cash at the half year of £16.5m, which Numis said suggested yet another “very robust operating cash performance”.

“We raised our EPS forecasts by 2-3% following the trading update. Obviously the interims will provide more financial detail, and management commentary will have the benefit of a further two months of trading,” Numis said.

Tuesday’s agenda is otherwise light on company results. On the macro-economic data front, the final estimate of first quarter eurozone gross domestic product is due along with German industrial production figures, Halifax UK house prices, US consumer credit data, China foreign reserves and the British Retail Consortium’s retail sales monitor for May.

Tuesday 07 June

INTERIMS
Gooch & Housego, IDOX

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Credit (US) (20:00)
Gross Domestic Product (EU) (10:00)
Industrial Production (GER) (07:00)

FINALS
B.P. Marsh & Partners, Carclo, Fulcrum Utility Services Ltd. (DI), Vianet Group, VP, WYG

EGMS
Greka Engineering & Technology Ltd. (DI)

AGMS
Billington Holdings, Cluff Natural Resources, Cluff Natural Resources, EU Supply, Gem Diamonds Ltd. (DI), HydroDec Group, InterQuest Group, InterQuest Group, Masawara, Oxford Biomedica, Safestay, Somero Enterprises Inc. (DI)

UK ECONOMIC ANNOUNCEMENTS
Halifax House Price Index (08:30)

FINAL DIVIDEND PAYMENT DATE
Merlin Entertainments , North American Income Trust (The)