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Renishaw reports record FY revenues
(Sharecast News) - Engineering company Renishaw reported record full-year revenues on Thursday, with adjusted profits rising despite ongoing macroeconomic pressures and restructuring costs. Renishaw said revenues rose 3.1% to £713.0m in the year ended 30 June, driven by strong demand in semiconductor and defence markets. At constant currency, revenue growth was 3.7%, with notable gains in Asia-Pacific, particularly China.
Adjusted pre-tax profits increased 3.8% to £127.2m, while statutory profits fell 3.7% to £118.0m, reflecting £9.2m in provisions linked to historical tax matters and £4.4m in non-recurring costs, including the closure of its Edinburgh research facility. Adjusted earnings per share rose 3.5% to 137.8p, but statutory EPS dropped 13.5% to 115.2p.
Renishaw, which proposed an increased full-year of 78.1p per share, also said it had made "solid progress" on its innovation-led strategy, with new product launches across metrology, additive manufacturing, and encoder technologies.
The FTSE 250-listed group also confirmed a £20m annualised payroll reduction programme would take effect in the first half of FY26, alongside a £3m benefit from exiting its neurological drug delivery business.
Chief executive Will Lee said: "I am pleased to report record revenue in FY2025, combined with an increase in adjusted profit before tax in what remain challenging market conditions. We continue to make solid progress with our innovation-led growth strategy, introducing many exciting new products this year and equipping our expanded manufacturing facilities for future growth.
"There has been a steady start to FY2026, in line with our expectations. Despite the continued global uncertainty, the structural drivers that underpin our markets are presenting growth opportunities across our businesses and at this stage we are expecting to achieve further steady revenue growth in the year ahead."
As of 0830 BST, Renishaw shares were up 4.98% at 3,353.95p.
Reporting by Iain Gilbert at Sharecast.com
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