Industry Headlines

Renishaw Revenue Up 59 Percent

July 28, 2011
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GLOUCESTERSHIRE, UNITED KINGDOM-Renishaw's full-year adjusted pretax profit almost tripled, helped by strong growth in China, and the British precision engineer said it expects its current progress to continue.

The company, which makes and sells precision metrology and inspection equipment and products for the healthcare sector, said it posted a 61% growth in its Far East markets.

The FTSE 250 company said it would pay a final dividend of 24.7 pence, amounting to a total dividend of 35 pence, up from 17.6 pence in 2010.

For the year to end-June, the company reported an adjusted pretax profit of 80.4 million pounds ($131.8 million), compared with 28.7 million pounds a year ago.

Revenue rose 59% to 288.7 million pounds.

Shares in Renishaw, which have risen about 12% since its positive forecast in May , closed at 1,886 pence on Tuesday on the London Stock Exchange.

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