Shares drop 21.5% as company reports decline in revenue
- RWS Holdings shares fell 21.5% after lower revenue forecast
- Revenue fell 2% over the year, or 6% on an organic constant-currency basis
- Second-half revenue fell 5% on an organic constant-currency basis
- CEO confident that levels will recover in due course
- Revenue forecast range of £738.1m to £757.4m with a consensus of £748.8m
- Adjusted pretax profit forecast of £116.5m to £129.0m with a consensus of £125.8m
Factuality Level: 8
Justification: The article provides specific information about RWS Holdings’ revenue decline during fiscal 2023, including the percentage decrease and the reasons behind it. It also includes quotes from the CEO and provides revenue forecast ranges. However, the article lacks additional context or analysis, and it does not provide any opposing viewpoints or independent verification of the information presented.
Noise Level: 3
Justification: The article provides relevant information about RWS Holdings’ financial performance, including revenue and profit forecasts. It also includes quotes from the CEO and mentions the company’s actions to address the challenging environment. However, the article lacks in-depth analysis, scientific rigor, and actionable insights. It mainly focuses on reporting the company’s financial figures without providing a broader context or exploring the consequences of the decisions on stakeholders.
Financial Relevance: Yes
Financial Markets Impacted: Shares of RWS Holdings
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of RWS Holdings, with shares falling due to a decline in revenue during fiscal 2023. There is no mention of an extreme event.
Public Companies: RWS Holdings (RWS)
Private Companies:
Key People: Ian El-Mokadem (Chief Executive Officer)
Shares of RWS Holdings fell 21.5% after the company reported a decline in revenue for fiscal 2023. The company stated that revenue fell 2% over the year, or 6% on an organic constant-currency basis. Second-half revenue also declined by 5% on an organic constant-currency basis. Despite the challenging environment, CEO Ian El-Mokadem expressed confidence that levels will recover in due course. The company provided a revenue forecast range of £738.1m to £757.4m, with a consensus of £748.8m. The adjusted pretax profit forecast is £116.5m to £129.0m, with a consensus of £125.8m.
