Jan 6 (Reuters) - British precision engineering companyRenishaw Plc raised its full-year revenue and profitforecast citing "good momentum" in its business and a recordorder book, sending its shares up more than 6 percent.
The company, which makes machine tool probes and gauges,said it expected a full-year pretax profit of 120 million-140million pounds ($182 million-$212 million) and revenue of 465million-495 million pounds in the year ending June 30.
Analysts on average were expecting a full-year pretax profitof 94.9 million pounds and revenue of 425.7 million pounds,according to Thomson Reuters I/B/E/S.
In November, Renishaw forecast full-year revenue of between425 million and 445 million pounds and an adjusted pretax profitof between 95 million and 105 million pounds, citing strongdemand across its product lines.
The company reported strong fourth-quarter and first-quarterresults on the back of large orders from a customer in theAsia-Pacific region, which analysts linked to the launch of newproducts from Apple Inc.
Contract manufacturers are believed to use Renishaw's tools,including precision measurement and calibration systems, to makeApple products. Analysts say the slew of new launches from thetech giant had increased demand for Renishaw's tools.
The company also said on Tuesday that it expected revenuefor the first half ended Dec. 31 of about 224 million pounds, anincrease of 37 percent from a year earlier.
Profit before tax for the first half is expected to bearound 55 million pounds, a 111 percent increase from a yearago, Renishaw said.
The company's shares closed up 4.9 percent at 2059 pence onthe London Stock Exchange. Renishaw is due to report first-halfresults on Jan. 29. ($1 = 0.6592 pounds) (Reporting by Roshni Menon in Bengaluru; Editing by SimonJennings)
Renishaw (RSW)
