Jason Ford

Renishaw posts 'incredible' results as turnover nears £500m

News

Renishaw, the metrology and engineering company, had investors jumping for joy this morning as its full year statement revealed record turnover of nearly £495m, record profits, a rock solid balance sheet and cash position.

Company chairman Sir David McMurtry said the technology company had experienced an “incredible year” in its full-year investor statement today.

The Gloucestershire-based company posted record turnover of £494.7m, up 39% on 2014. Profits before tax were also a record, at £144.2m an increase of 105% on 2014’s £70.1m.  Astonishingly, the increase in revenue since 2014 tops its revenues after the first 30-years of business, £139m.

Growth was fuelled by high demand for its machine tools, automated measurement, additive manufacturing and encoder products.

The healthcare division made a loss but the company said it was investing heavily in R&D to build this division up. Capital expenditure was up to £48.4m from £39m in 2014, just under 10% of group turnover. The company has invested in new machine tools, and expanding several facilities including the new Renishaw Innovation Centre at New Mills in Gloucestershire, the laser plant at Stone in Staffs and facilities in Spain, Mexico and the US.

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