Trading Statement

RNS Number : 9777M

Renishaw PLC

13 May 2015

 



Renishaw plc

Trading update

 13th May 2015

Renishaw plc issues the following Trading update covering the period from 1st January 2015 to 12th May 2015. Financial information in this announcement relating to the current year is unaudited.

Group trading activity

Revenue for the third quarter ended 31st March 2015 amounted to £145.9m (2014: £84.5m) and cumulative revenue for the 9 months was £369.7m, compared with £248.5m for the corresponding period last year, an increase of 49%.

Revenue for the 9 months in the Far East was 124% above the comparable period last year. The Americas showed growth of 14%, the UK growth of 7%, and Europe was 1% higher.

Profit before tax for the third quarter was £53.2m (2014: £14.4m) and cumulative profit before tax was £109.8m, compared with £40.0m for the corresponding period last year, an increase of 174%.

Financial position

The Group continues to maintain a strong balance sheet with net cash balances at 31st March 2015 of £74.0m (including an escrow account of £15.1m relating to the provision of security for the UK defined benefit pension scheme) (2014: £60.7m, including an escrow account of £9.9m), after capital expenditure of £34.4m.

Outlook

In our Interim results announced in January 2015, we indicated an anticipated full year revenue in the range of £480m to £510m and profit before tax in the range of £130m to £150m. Our current view is that these ranges are still appropriate.

Investor day

As previously announced, Renishaw will be hosting an investor day on 14th May 2015, further details of which are on our website.

Sir David McMurtry

CBE, RDI, FRS, FREng, CEng, FIMechE

Chairman and Chief Executive

13th May 2015

Note on date of announcement of full year's results

Renishaw will be announcing its year end results to 30th June 2015 on 29th July 2015.

Renishaw plc

Registered office                        New Mills, Wotton-under-Edge, Gloucestershire, GL12 8JR

Registered number                     1106260

Telephone number                      01453 524524

Website                                    www.renishaw.com

 

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