Renishaw’s chairman and CEO, Sir David McMurtry reported a revenue increase of 5% to £91.6m (2006 £87.1m) for the first six months of 2007.
At constant exchange rates, revenue would have been £1.9m higher, an increase of 7% reflecting good progress in Renishaw’s major geographic markets, particularly the Far East. Within the product mix, there was above-average growth in laser and calibration, machine tool and styli products, if partly offset by lower revenue from spectroscopy and dental products.
Operating profit rose 9.5% to £13.2m (2006 £12.0m). At constant exchange rates the operating profit would have increased to approximately £15.0m, an increase of 25%. Profit before tax increased 11.4% to £15.1m (2006 £13.5m).
Sir David said, “Whilst performance has improved during the first half, we still expect continuing and improved performance in the second half, aided by resumed orders from a major Japanese customer for its own export sales, growing orders for new products especially the REVO and the current weakness of sterling”
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