Renishaw PLC Trading Statement (6626E)
May 10 2017 - 2:00AM
UK Regulatory
TIDMRSW
RNS Number : 6626E
Renishaw PLC
10 May 2017
Renishaw plc
Trading update
Revenue for the third quarter ended 31st March 2017 amounted to
GBP141.7m (2016: GBP109.6m) and cumulative revenue for the nine
months to 31st March 2017 was GBP382.2m compared to GBP308.1m for
the corresponding period last year. The nine months' revenue
represents an increase of 24% with a 10.5% currency benefit and
underlying growth of 13.5%.
Profit before tax for the third quarter was GBP33.6m (2016:
GBP21.8m restated*) and cumulative profit before tax to 31st March
2017 was GBP69.3m, compared with a restated GBP50.4m last year.
Cumulative profit before tax benefitted by GBP15.2m when compared
to last year's exchange rates.
Cash balances at the end of March 2017 were GBP53.6m (2016:
GBP48.8m), which includes the pension fund escrow account of
GBP15.4m (2016: GBP15.7m) and after year to date capital
expenditure of GBP37.1m.
We continue to manage our cost base and evaluate investment in
new business areas. In our half year trading update, we forecast
full year revenue to be in the range of GBP500m to GBP530m and
profit before tax to be in the range of GBP85m to GBP105m. We are
now anticipating revenue to be in the range of GBP520m to GBP535m
and profit before tax to be in the range of GBP99m to GBP108m.
The preliminary announcement of our results for the year ending
30th June 2017 will be made on Thursday 27th July 2017.
Sir David McMurtry
CBE, RDI, FRS, FREng, CEng, FIMechE
Chairman and Chief Executive
10th May 2017
Registered number: 1106260
Registered office: New Mills, Wotton-under-Edge, Gloucestershire, GL12 8JR
Telephone: 01453 524524
Website: www.renishaw.com
* Previous year figures have been restated for the
following:
1. The results of Renishaw Diagnostics Limited have been
excluded, as this business has been reclassified as a discontinued
activity.
2. The R&D tax credit, previously accounted for within the
Income tax expense line has been reclassified to be part of
administration expenses, thereby showing it as part of the profit
before tax.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTEAXSNEFSXEFF
(END) Dow Jones Newswires
May 10, 2017 02:00 ET (06:00 GMT)
Renishaw (LSE:RSW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Renishaw (LSE:RSW)
Historical Stock Chart
From Apr 2023 to Apr 2024