24th Mar 2016 07:45
LONDON (Alliance News) - Engineer Renishaw PLC on Thursday trimmed its profit and revenue guidance for its financial year to the end of June due to weaker trading conditions in the second half.
The FTSE 250-listed company, which makes a range of precision measurement, 3D laser scanning and healthcare products, has consistently warned profit and revenue for the current financial year would fall against the prior year owing to large one-off orders not repeating.
On Thursday, however, Renishaw said trading conditions have weakened in the second half, leaving it now expecting pretax profit of GBP67.0 million to GBP83.0 million for the full year, down from its previous guidance of GBP85.0 million to GBP105.0 million.
It also cut its revenue guidance for the second time this year, down to GBP420.0 million to GBP440.0 million from GBP440.0 million to GBP465.0 million previously.
Renishaw will issue another trading update on May 11.
By Sam Unsted; [email protected]; @SamUAtAlliance
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