Renishaw (RSW)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

4,025.00p
   
  • Change Today:
      40.00p
  • 52 Week High: 4,370.00
  • 52 Week Low: 2,950.00
  • Currency: UK Pounds
  • Shares Issued: 72.79m
  • Volume: 10,773
  • Market Cap: £2,929.74m
  • 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.

Email this article to a friend

or share it with one of these popular networks:


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 4,370.00
52 Week Low 2,950.00
Volume 10,773
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
13:11 8 @ 4,025.00p
13:11 14 @ 4,025.00p
13:11 30 @ 4,025.00p
13:10 68 @ 4,020.00p
13:09 5 @ 4,015.00p

Renishaw Key Personnel

CEO William Lee

Top of Page