Renishaw Report Increased Revenues Across All Regions

Renishaw has announced its first quarter results for its 2018/2019 financial year. The company increased revenues in the three months ending 30 September to £154m ($202m) a growth of 8% over the £142.3m ($186.4) for the corresponding period last year. Renishaw reported growth for the period, at constant exchange rates, of 7% with growth in all regions.

Renishaw metrology business revenue amounted to £147.4m ($193m) compared to £137.1m ($179.6) last year, with growth at constant exchange rates of 7%.

The company’s adjusted profit before tax from continuing operations for the first quarter amounted to £32.6m ($42.7m) compared with £35.8m ($46.9) last year and the statutory profit before tax amounted to £33.5m ($43.9m) compared with £36.9m ($48.3m). The group balance sheet remains strong with net cash balances of £115.3m ($151m) as at 30th September 2018 compared to £103.8m ($136m) at 30th June 2018.

The statement from the company read: “Over recent years, we have invested in people and infrastructure to support growth opportunities and are now well placed to benefit from these investments. We anticipate the rate of investment in additional resources will reduce in the remainder of the current financial year as we continue to monitor the Group’s cost base.

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