Renishaw Group Profit Up 7%
GLOUCESTERSHIRE, UK-Renishaw Plc said Wednesday that profit for the year increased from last year, as revenues climbed 15% helped by demand from the Far East, sending the engineering firm's shares up by over 6% in morning trade.
The company, which makes precision metrology and inspection equipment as well as products for the healthcare sector, said pre-tax profit increased to 86.05 million pounds ($135 million) from last year's 82.08 million pounds ($129 million).
Profit attributable to equity shareholders of the parent company grew to 69.56 million pounds ($109 million) from 66.12 million pounds ($104 million).
Revenue climbed to 331.89 million pounds ($521 million) from 288.75 million pounds ($453 million) in the previous year.
All geographic areas saw good progress in revenue, benefiting from a full year's trading from acquisitions.
Revenue from the metrology business climbed 15% to 305.8 million pounds (&480 million) with all product lines, except encoder products, reporting growth.
The Americas saw an 18% increase at 76.8 million pounds ($121 million), and the Far East saw a 14% growth at 130.2 million pounds ($204 million). Revenue increased 12% in Europe to 95.7 million pounds ($150 million). In the Far East, a strong recovery was seen in the final quarter due mainly to revenue from China.
The company, which makes precision metrology and inspection equipment as well as products for the healthcare sector, said pre-tax profit increased to 86.05 million pounds ($135 million) from last year's 82.08 million pounds ($129 million).
Profit attributable to equity shareholders of the parent company grew to 69.56 million pounds ($109 million) from 66.12 million pounds ($104 million).
Revenue climbed to 331.89 million pounds ($521 million) from 288.75 million pounds ($453 million) in the previous year.
All geographic areas saw good progress in revenue, benefiting from a full year's trading from acquisitions.
Revenue from the metrology business climbed 15% to 305.8 million pounds (&480 million) with all product lines, except encoder products, reporting growth.
The Americas saw an 18% increase at 76.8 million pounds ($121 million), and the Far East saw a 14% growth at 130.2 million pounds ($204 million). Revenue increased 12% in Europe to 95.7 million pounds ($150 million). In the Far East, a strong recovery was seen in the final quarter due mainly to revenue from China.
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
