A spate of large orders in China pushed up half-year profits and sales at advanced engineering group Renishaw.
The orders, in the Chinese consumer electronics market, helped lift pre-tax profit during the second half of 2012 by 39% to £43.3m on revenue up 18% at £174.2m. However, the group, which makes hi-tech measuring probes used in factories acro
ss the world, expects second-half revenue to remain flat.
Chairman and chief executive Sir David McMurtry said: “Geographically, we saw good growth in the Far East where revenue increased by 59% over the comparable period, from £49.5m to £78.6m.
“In our other major regions, revenue in the Americas was down 1%, from £36.5m to £36.1m and in Europe was down 7%, from £47.1m to £44.0m. The UK, a smaller segment in absolute amount, grew 16%, from £8.7m to £10.0m.”
