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Interim Results

Renishaw H1 pretax profit more than halved

28 January 2016 07:37

Renishaw said its H1 pretax profit fell to GBP26.1m, or more than half the GBP56.6m profit booked a year earlier. Revenue was at GBP198.5m, from GBP223.8m. It proposed a dividend of 12.5p a share, unchanged.

"Revenue at previous year's exchange rates would have been £1.2m higher. Revenue last year benefitted from a number of large orders in the Far East, which have not been repeated to the same extent this year," the company said in a statement.

"Underlying growth, after adjusting for these factors, was 5%."

OUTLOOK

"We anticipate an improvement in our underlying growth during the second half of the year and, as we indicated in our October trading statement, we currently expect full year revenue to be in the range of £440m to £465m and profit before tax to be in the range of £85m to £105m.

"We remain confident of the Group's prospects for both this year and the future."

Story provided by StockMarketWire.com

Related Company: RSW

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