AGM Statement

RWS Holdings plc ("the Group" or "the Company"), a unique world-leading provider of technology-enabled language, content and intellectual property services, is today holding its Annual General Meeting at which Julie Southern, Chairman, will make the following remarks:

"The Company continued to deliver on its medium-term strategy in FY24, having returned to growth in the second half of the year on an organic constant currency ("OCC") basis. Client retention levels remained high, client satisfaction improved and we achieved significant new wins. The Group's investments in growth initiatives and the efficiency actions that we have taken in line with our strategy are enabling us to successfully pivot towards both AI-led and more specialist solutions, facilitating a more resilient performance.

Current trading and outlook

"We are encouraged by another period of OCC growth in the first quarter of FY25, supported by strong volumes in our services divisions. Nevertheless, we continue to experience some challenges in relation to both price and mix. We are seeing more evidence of the success of our pivot towards the growth focus areas outlined at the FY24 results, with ongoing momentum in the Language & Content Technology division and in TrainAI, our data training business.

"Our cost control programme is progressing well, with the majority of these benefits realised in the second half, as planned. We continue to look for opportunities to drive efficiencies through process improvement and increased use of technology.

"In line with our previous guidance, we expect to deliver modest OCC revenue growth in FY25, with growth in volumes anticipated to more than offset ongoing price pressure."