Wotton-Under-Edge, England –Renishaw Plc, precision measuring equipment manufacturer, posted record profit in the fiscal first half as demand for its products grew in Asia and the company sold more metrology products.
The metrology business “exceeded our expectations,” the company said, with operating profit rising to 39.3 million pounds from 9 million pounds a year earlier.
At the start of the second half of the fiscal year, Renishaw has seen continued strong worldwide demand for its products, CEO David McMurtry said in a statement.
Profits grew fastest in the Far East region, and China has become the company’s main market, Renishaw said. The U.K. manufacturer’s products include laser-calibration and machine-tool gear.
Renishaw First-Half Net Income Surges
January 28, 2011