Renishaw (RSW)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

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

Renishaw FY profit set to fall amid 'challenging' backdrop

By Michele Maatouk

Date: Thursday 30 Jan 2020

LONDON (ShareCast) - (Sharecast News) - FTSE 250 engineer Renishaw warned on Thursday that full-year profit was set to fall as it posted a drop in interim profit and revenue amid "challenging" trading conditions.
In the six months to 31 December, revenue declined 13% to £259.4m while adjusted pre-tax profit slumped to £14.3m from £59.6m in the same period a year ago. Renishaw pointed to a challenging backdrop due to the global macroeconomic environment and ongoing uncertainty caused by the trade war between the US and China, as well as weaker demand in the machine tool sector.

The company also noted that the first half of 2019 had benefitted from a number of large orders from end-user manufacturers of consumer electronic products in Asia Pacific, which have not been repeated this year.

Still, the group said there were "some positive indications" of recovery in the semiconductor market which have benefitted its encoder lines.

Renishaw said trading conditions are expected to remain challenging for the rest of the financial year. As a result, it expect full-year revenue to be between £530m and £560m, while adjusted pre-tax profit is set to come in at between £50m to £70m. In 2019, adjusted pre-tax profit was £103.9m.

Statutory pre-tax profit was forecast to be between £38m and £58m.

"The board believes that the structural demand drivers in our end-markets remain intact. The group is in a strong financial position and we remain confident in the group's long-term prospects due to the high quality of our people, our innovative product pipeline, extensive global sales and marketing presence and relevance to high-value manufacturing," it said.

At 1000 GMT, the shares were up 0.6% at 4,184p.

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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 4,370.00p
52 Week Low 2,950.00p
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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