Profits fall at West engineering group Renishaw

January 30, 2014

Half-year profits at West advanced engineering group Renishaw plunged by 65% to £25.6m yesterday due to lower orders in the Far East.

Revenue was also down from £174.2m to £164.0m.

The Wotton-under-Edge-based group, one of the region’s most successful manufacturers, said the figures for the six months to December 31 were lower due to an exceptional raft of orders in China the in equivalent period in 2012.

It said is expecting an improvement in trading in the current half year and it had achieved good growth in the Americas and Europe.

There had also been strong demand for its 3D additive manufacturing, measurement automation, encoder and spectroscopy products and it had continued to invest in production, engineering and marketing infrastructure.


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