Renishaw (RSW)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

4,025.00p
   
  • Change Today:
      40.00p
  • 52 Week High: 4,370.00p
  • 52 Week Low: 2,950.00p
  • Currency: UK Pounds
  • Shares Issued: 72.79m
  • Volume: 10,864
  • Market Cap: £2,929.74m
  • RiskGrade: 147

Renishaw profits hit by 'challenging' global macro environment

By Iain Gilbert

Date: Tuesday 15 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Metrology and technology group Renishaw posted a fall in first-quarter profit and revenue on Tuesday as it said trading is expected to remain challenging throughout the rest of 2019.
In the three months ended 30 September, revenues declined 19.09% after a number of large orders from end-user manufacturers of consumer electronic products across the Asia Pacific region were not repeated this year.

In the metrology business, revenues dropped 18.79% to £119.7m, while healthcare revenues tumbled 25.76% to £4.9m due to the timing of additive manufacturing machine sales.

As a result of the weaker revenues, Renishaw said adjusted pre-tax profits had crashed 86.81% to £4.3m - including restructuring provisions of £2m following the decision to close its additive manufacturing facility in Stone, Staffordshire.

Renishaw said it had experienced reduced demand for its products as a result of a "challenging global macroeconomic environment", something it expects to continue until at least the end of the trading year.

The FTSE 250 group said structural demand drivers in its end-markets remain intact. Renishaw said it was in a strong financial position and remained committed to its long-term strategy of delivering growth through the development and introduction of innovative and patented products.

"However, as previously indicated, we are focussed on improving productivity and we are committed to undertaking further initiatives to reduce the group's cost base," the company said.

Renishaw said the balance sheet remained "strong", with net cash balances of £98.5m as of 30 September compared to £106.8m at 30 June.

As of 0830 BST, Renishaw shares had slumped 10.67% to 3,180p.

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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 4,025.00p
Change Today 40.00p
% Change 1.00 %
52 Week High 4,370.00p
52 Week Low 2,950.00p
Volume 10,864
Shares Issued 72.79m
Market Cap £2,929.74m
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
13:14 91 @ 4,025.00p
13:11 8 @ 4,025.00p
13:11 14 @ 4,025.00p
13:11 30 @ 4,025.00p
13:10 68 @ 4,020.00p

Renishaw Key Personnel

CEO William Lee

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