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LONDON (Alliance News) - Engineer Renishaw PLC on Thursday reported higher pretax profit and revenue for the first half of its financial year and said it remains confident on its future prospects.
The FTSE 250-listed company, which makes a range of precision measurement, 3D laser scanning and healthcare products, said it made a pretax profit of GBP35.7 million in the half to the end of December, up from GBP28.6 million a year before.
Revenue in the first half rose to GBP240.4 million from GBP198.5 million a year before. Renishaw said its sales grew across its regional operations, with strong performances in Asia, Europe, the Americas and the UK in the half.
Sales in its Metrology business rose year-on-year, with strong growth from its encoder and laser calibration product lines, offsetting a slight decline in revenue from its much smaller Healthcare division.
The firm said it will pay an interim dividend of 12.50 pence per share, flat year-on-year.
Renishaw said its remains confident in its prospects for the rest of its financial year and provided guidance for revenue to be between GBP500.0 million and GBP530.0 million in the year to June 30, with pretax profit to be GBP85.0 million to GBP105.0 million. In its 2016 financial year, it made an annual pretax profit of GBP85.7 million.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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