Renishaw revenues up but profit down in Q1

(Sharecast News) - High-precision metrology and healthcare technology group Renishaw posted a rise in first-quarter revenue but a drop in profit on Thursday.In the three months to 30 September, total revenue was up 8% to £154m. Revenue in the metrology business was 8% higher at £147.4m and revenue in the healthcare arm was up 27% at £6.6m. Adjusted pre-tax profit fell, however, to £32.6m from £35.8m.The company had net cash balances of £115.3m as at 30 September 2018 compared to £103.8m at 30 June."Despite the potential impacts of Brexit and economic uncertainties in Asia the board remains confident in the future prospects of the group and of growth in both revenue and profit in this financial year," it said.At 0900 BST, the shares were down 1% to 4,220p.