Big surge in turnover and profits at Renishaw

Sir David McMurty

Sir David McMurty

Global engineering firm Renishaw has posted a big surge in turnover and profits.

The good news has been helped by a large quantity of orders from Far East customers in the consumer electronic market.

Renishaw is headquartered in Gloucestershire.

Chairman and chief executive Sir David McMurtry  said he was “confident” in the long-term prospects of the group, but cautioned that results for its current financial year might not hit the record heights of 2014/15.

In the year to 30 June 2015, Renishaw recorded a 39 per cent rise in revenue to £494.7m, buoyed by a huge leap in sales at its metrology business.

Overall group pre-tax profit grew to £144.2m, a 50 per cent increase compared with the £96.4m generated in 2013/14.

Sir David comments “At this early stage in the current financial year, we anticipate that revenue for this year will be in the range of £460m to £485m and profit before tax will be in the range of £85m to £105m.”

A final dividend of 34p per share has been recommended, giving a total for the year of 46.5p, a 13 per cent increase on the previous year.