Renishaw Announce Record Revenues

Renishaw have announced is preliminary results for its fiscal year ending 30th June 2018 which report record revenues.

The highlights of its results can be highlighted as:

  • Record revenue of £611.5m, with growth at constant exchange rates of 18%
  • Revenue growth in all metrology product lines, with strong growth in measurement and automation, coordinate measuring machine, machine tool and additive manufacturing product lines
  • Revenue growth in all healthcare product lines, with strong growth in its neurological product line
  • Record adjusted profit before tax of £145.1m representing a growth of 33%
  • Healthcare business achieves profit for the first time
  • Capital expenditure of £34.9m providing for future growth
  • Headcount increase of 332, including 122 graduates and apprentices
  • Strong balance sheet, with cash of £103.8m, compared with £51.9m last year

Renishaw Chairman Sir David McMurtry stated “The group is in a strong financial position and continues to invest in the development of new products and applications, along with targeted investment in production, and sales and marketing facilities around the world.”

“We have experienced strong growth in 2018 and, whilst noting ongoing uncertainty surrounding Brexit and currency exchange rate volatility, Renishaw directors remain confident in the long-term prospects for the group due to our innovative product base, extensive global sales and marketing presence and relevance to high-value manufacturing.”

“At this early stage in the year, we anticipate growth in both revenue and profits in the current financial year.”

“The group continues its strategy to invest for the long term, expanding our global marketing and distribution infrastructure, along with increasing manufacturing capacity and research and development activities.”

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