Renishaw PLC Trading Statement (8395X)
May 11 2016 - 2:00AM
UK Regulatory
TIDMRSW
RNS Number : 8395X
Renishaw PLC
11 May 2016
Renishaw plc
Trading update
Revenue for the third quarter ended 31st March 2016 amounted to
GBP109.6m (2015: GBP145.9m) and cumulative revenue for the nine
months to 31st March 2016 was GBP308.1m, compared with GBP369.7m
for the corresponding period last year. As noted in our half year
statement, 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. Revenue for the nine months at last year's
exchange rates would have been GBP307.6m. After adjusting for these
factors, there was underlying growth of 5%.
Profit before tax for the third quarter was GBP20.2m (2015:
GBP53.2m) and cumulative profit before tax up to 31st March 2016
was GBP46.3m, compared with GBP109.8m last year.
Cash balances at the end of March 2016 were GBP48.8m (2015:
GBP74.0m), which includes the pension fund escrow account of
GBP15.7m (2015: GBP15.1m), after year to date capital expenditure
of GBP38.0m.
The Board has agreed that Kath Durrant, currently a
non-executive director of the Company and member of the
Remuneration Committee, should take the role of Chair of the
Remuneration Committee with immediate effect. She replaces David
Grant, who remains the senior independent director and member of
the Remuneration Committee and Audit Committee, and the Board
thanks him for his contribution as Chair of the Remuneration
Committee.
As we published in our trading update in March 2016, we expect
full year revenue to be in the range of GBP420m - GBP440m and a
profit before tax in the range of GBP67m - GBP83m.
Sir David McMurtry
CBE, RDI, FRS, FREng, CEng, FIMechE
Chairman and Chief Executive
11th May 2016
Registered number: 1106260
Registered office: New Mills, Wotton-under-Edge, Gloucestershire, GL12 8JR
Telephone: 01453 524524
Website: www.renishaw.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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