Source - SMW
Renishaw has reported total revenue from continuing operations for the first quarter of the current financial year of £142.3m, a growth of 26% against the £112.8m for the corresponding period last year.

The Company said revenue benefited due to a number of large orders from Far East customers in the consumer electronics markets and that it experienced underlying growth at constant exchange rates of 20% with growth in all regions.

Statutory profit before tax in Q1 was £36.9m, compared to £10.7m for the same quarter last year.

The Group balance sheet remains strong with net cash balances of £82.6m as at 30th September 2017 (30th June 2017: £64.8m), including an escrow account of £12.9m (30th June 2017: £12.9m) which it said provides additional security for the UK defined benefit pension scheme.

In terms of outlook, Renishaw added:

"The Board remains confident in the future prospects of the Group and of achieving good growth in both revenue and profit in this financial year.

"The results for the half year ending 31st December 2017 will be released on 25th January 2018."
 



At 1:21pm: (LON:RSW) Renishaw PLC share price was +100p at 4810p