QMT News: July 2011
Renishaw expects record results

Technology company, Renishaw, have issued an Interim management statement on its trading activity which reports a  strong performance of the Group throughout the third quarter of this financial year.

Chairman and CEO, Sir David McMurtry reported that revenue for the third quarter was £75.6m, 60% ahead of the comparable period last year, helped by particularly strong revenue of £32.0m in March 2011. The cumulative revenue for the 9 months to 31st March 2011 of £204.9m (approximately 95% of which were sales to overseas customers) was 69% ahead of the £121.1m for the comparable period last year. Metrology revenue for the 9 months was £190.6m, compared with £108.4m last year, an increase of 76% and Healthcare revenue was £14.3m, compared with £12.7m last year, an increase of 13%.

Profit before tax for the 9 months to 31st March 2011 amounted to £60.3m, compared with £15.5m last year.
Sir David said that Renishaw’s Board expects  record results and anticipates that pre-tax profits for the year will be ahead of current market expectations of around £75m* for pre-tax profits.
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