Renishaw (RSW)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

4,015.00p
   
  • Change Today:
      30.00p
  • 52 Week High: 4,370.00
  • 52 Week Low: 2,950.00
  • Currency: UK Pounds
  • Shares Issued: 72.79m
  • Volume: 10,393
  • Market Cap: £2,922.46m
  • RiskGrade: 147

Renishaw's revenue climbs, though profits dip on cost increases

By Duncan Ferris

Date: Thursday 31 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Engineer Renishaw reported interim revenue growth across all regions except for the Far East, where trading was impacted by a slowdown in demand for encoder products.
Profits before tax for the FTSE 250-listed group, however, decreased by 7% to £61.6m as costs mounted after taking "a strategic decision" to increase certain inventory lines in preparation for potential supply chain delays that could arise as a result of Brexit.

For the six-month period ended 31 December total revenue reached £296.7m, up by 6% compared to the same period the year before.

The increased costs included, a 20% jump in administrative expenses to £29.0m, cost of sales swelling 10% to £148.5m and distribution costs up 8% to £63.8m.

Revenue growth was driven by a 20% surge in revenue at constant exchange rates from trading in the UK and Ireland, which came in at £17.7m, as well as smaller increases of 9% and 7% in the Americas and Europe, which reached £65.4m and £76.8m respectively, and a 17% increase to £10.4m in other regions.

A 1% dip in revenue from the Far East was dismissed by Renishaw as "largely as a result of a slow down in demand for our encoder products and from large end-user manufacturers of consumer electronic products".

At 31 December there was cash and equivalents of £100.5m on the balance sheet, up from £69.1m at the same point the year before.

"Notwithstanding current economic uncertainties, the board remains confident in the future prospects of the group," a statement read, guiding to full year revenue in the range of £635-665m, adjusted profit before tax of £140-160m and statutory profit before tax of £146-166m.

These figures compare to revenue of £611.5m and profit before tax of £155.2m which were achieved across the previous year.

Renishaw's shares were up 3.44% at 4,514.00p at 0921 GMT.

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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 4,015.00p
Change Today 30.00p
% Change 0.75 %
52 Week High 4,370.00
52 Week Low 2,950.00
Volume 10,393
Shares Issued 72.79m
Market Cap £2,922.46m
RiskGrade 147

Renishaw Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.82% below the market average78.82% below the market average78.82% below the market average78.82% below the market average78.82% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Price Trend
33.91% above the market average33.91% above the market average33.91% above the market average33.91% above the market average33.91% above the market average
43.59% above the sector average43.59% above the sector average43.59% above the sector average43.59% above the sector average43.59% above the sector average
Income
82.35% below the market average82.35% below the market average82.35% below the market average82.35% below the market average82.35% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Growth
2% below the market average2% below the market average2% below the market average2% below the market average2% below the market average
37.14% above the sector average37.14% above the sector average37.14% above the sector average37.14% above the sector average37.14% 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 17-Jun-2024

Time Volume / Share Price
12:09 11 @ 4,016.50p
12:02 38 @ 4,015.00p
12:02 31 @ 4,015.00p
12:02 38 @ 4,015.00p
12:02 38 @ 4,015.00p

Renishaw Key Personnel

CEO William Lee

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