On July 25th, Renishaw's chairman, Sir David McMurtry announced record results in terms of revenue and profit for the year ended 30th June 2012.
Sir David stated that total Group revenue for the year was £331.9m, 15% ahead of the £288.7m for last year. All geographic areas saw good progress, with growth of 18% in the Americas (revenue of £76.8m), 14% in the Far East (£130.2m), 12% in Europe (£95.7m) and 28% in the UK (£18.9m) benefitting from a full year's trading from acquisitions. In the Far East, the company saw a strong recovery in the final quarter of the year, principally due to revenue from China.
Group profit before tax for the year was £86.0m, compared with £80.4m last year (excluding a £1.7m exceptional item), an increase of 7%.
Revenue from Renishaw’s metrology business was extremely strong in the last quarter of the year, resulting in revenue for the full year of £305.8m, compared with £267.0m last year, an increase of 15%. Operating profit was £91.8m, compared with £87.7m in 2011.
Sir David stated that although the world economic outlook is uncertain, the Board remains optimistic regarding the Group's own future and prospects and expects that 2013 will be another year of progress for Renishaw.
QMT News: October 2012
Record set of Group results for Renishaw - preliminary report.
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