Renishaw First Quarter Revenue Grows 26% For Measuring Technology

Renishaw Plc has reported a 26 percent rise in first-quarter revenue as strong demand for its precision measuring equipment continue. The company said its revenue benefited due to a number of large orders from Far East customers in the consumer electronics markets.

The company stated that revenue in the quarter rose to 142.3 million pounds ($185 million) from 112.8 million pounds ($147 million) a year ago.

Pre-tax profit from continuing operations, on an adjusted basis, rose to 35.8 million pounds ($47 million) in the three months ended Sept. 30 from 15.1 million pounds ($20 million)na year earlier.

Renishaw said it remains confident of “good growth” in profit and revenue this financial year, it said in its statement.

For more information: www.renishaw.com