Renishaw (RSW)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

3,740.00p
   
  • Change Today:
    -10.00p
  • 52 Week High: 4,370.00
  • 52 Week Low: 2,950.00
  • Currency: UK Pounds
  • Shares Issued: 72.79m
  • Volume: 14,703
  • Market Cap: £2,722.29m
  • RiskGrade: 147

Renishaw upgrades full-year forecasts after strong nine months

By Sean Farrell

Date: Wednesday 09 May 2018

LONDON (ShareCast) - (Sharecast News) - Renishaw upgraded its forecasts for annual results after the engineering group reported a 39% increase in profit for the first nine months of 2018.


Adjusted pre-tax profit for the nine months to the end of March jumped to £97.6m from £70.1m a year earlier as revenue rose 12% to £429.9m.

Statutory pre-tax profit rose 50% to £104.4m. Stripping out currency swings, revenue rose 17%. The trading statement sent Renishaw's shares up 10% to 5,228p at 10:10 BST.

Revenue growth was driven by Renishaw's metrology business, which makes precision measuring devices for industrial use. The division's revenue rose 12.5%, or 17% at constant exchange rates, to £406.6m.

In its update the company strengthened its forecast for annual revenue to £585m-£610m from £575-£605m. Adjusted pre-tax profit is now expected to be £135m-£150m, up from an earlier prediction of £127m-£147m. Renishaw reports full-year results on 30 June.

"Notwithstanding current economic uncertainties, the board remains confident in the future prospects of the group," Renishaw said.

Renishaw's strong performance carried on a trend established in the first half. Goldman Sachs predicted in April that the company would join the FTSE 100, driven partly by demand in China which is trying to shift to high value-add manufacturing.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Renishaw Market Data

Currency UK Pounds
Share Price 3,740.00p
Change Today -10.00p
% Change -0.27 %
52 Week High 4,370.00
52 Week Low 2,950.00
Volume 14,703
Shares Issued 72.79m
Market Cap £2,722.29m
RiskGrade 147

Renishaw Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.39% below the market average78.39% below the market average78.39% below the market average78.39% below the market average78.39% below the market average
88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average
Price Trend
5.88% above the market average5.88% above the market average5.88% above the market average5.88% above the market average5.88% above the market average
28.21% above the sector average28.21% above the sector average28.21% above the sector average28.21% above the sector average28.21% above the sector average
Income
79.42% below the market average79.42% below the market average79.42% below the market average79.42% below the market average79.42% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
2.84% above the market average2.84% above the market average2.84% above the market average2.84% above the market average2.84% above the market average
29.41% above the sector average29.41% above the sector average29.41% above the sector average29.41% above the sector average29.41% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 3
Sell 1
Strong Sell 1
Total 7
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Renishaw Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Mar-24 02-Nov-23
Paid 09-Apr-24 07-Dec-23
Amount 16.80p 59.40p

Trades for 26-Jun-2024

Time Volume / Share Price
12:25 100 @ 3,735.90p
12:04 50 @ 3,738.72p
11:51 62 @ 3,731.66p
11:48 5,083 @ 3,747.50p
11:37 2 @ 3,740.00p

Renishaw Key Personnel

CEO William Lee

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