Profits soar for Renishaw

Metrology company Renishaw has announced pre-tax profits of £52.13m for the year ending June 30, 2007


Renishaw has announced pre-tax profits of £52.13m for the year ending June 30, 2007. This represents an increase from £38.1 million in 2006. The metrology company also saw its full year sales rise from £175.83m to £180.88m, a growth of eight per cent at current interest rates.


With the exception of coordinate measuring machines (CMM) where one of its major customers, Japan, is subject to an export ban, the company has reported growth in all areas of its product line, but particularly in machine tools and dental equipment.


As well as continuing investment in new equipment at its UK manufacturing facilities, the group has introduced a number of new products over the past year. It also acquired a 20 per cent interest in CAD/CAM specialist Delcam which is expected to enhance the sales of both companies and provide opportunities for developing software to support Renishaw’s products.


On the down side, the company’s operating profits have taken a bit of a hit this year, dropping from £35.5m to £29.7m. This is largely put down to unfavourable foreign exchange rates, a situation that is likely to continue having an impact over the coming months. Nevertheless, if current rates of order intake continue, the company anticipates sales growth approaching double digits.