Renishaw revenues ahead of last year

The company says it saw growth in Europe, UK and the Americas. Sales to the USA, its biggest single market, are "going well" with revenue above the comparable period. In the Far East, Renishaw's biggest geographical market, revenue in the third quarter was a little below the level of last year, however, activity is picking up and the company says it is revenue to be ahead of last year at the full year point. Profit before tax for the third quarter were £21.4 million; below last year's £25.2 million, and for the 9 months to 31 March 2012 amounted to £52.6 million, compared with £60.5 million last year. This out turn reflects the impact of continued investment in staff and infrastructure to support future growth, the company says. Profit is expected to be ahead of last year at the year end, however, so greater than £80.4 million before tax. Metrology revenues for the 9 months amounted to £211.7 million compared with £196.3 million for the comparable period last year, an increase of 8%. Renishaw received its 15th Queen's Award in April 2012, for its SP80 ultra-high accuracy analogue scanning probe. The company's healthcare business saw revenue of £17.1 million across 9 months, compared with £14.3 million last year, an increase of 20%. A number of group developments have taken place, including the acquisition, in April 2012, R&R Sales LLC, a USA-based supplier of fixtures for the global measurement and inspection market. This, the company says, will support the group's increasing focus on metrology system sales to end users, such as its new Equator Gauge, which requires fixturing products. Back in the UK, Renishaw has developing a new manufacturing facility in Miskin, South Wales. The refurbished 62,500 sq ft facility will offer additional manufacturing capacity to accommodate growing demand for the group's products, including additive manufacturing machines, which are scheduled to commence production from the beginning of 2013. Image: Sir David McMurtry, CBE, RDI, FREng, FRS, CEng, FIMechE, Renishaw chairman and chief executive