15th Oct 2015 09:48
LONDON (Alliance News) - Renishaw PLC on Thursday said its revenue declined slightly in the first quarter and said it expects sales for the full year will be slightly below previous guidance.
The FTSE 250-listed company, which makes a range of precision measurement, 3D laser scanning and healthcare products, said its revenue in the first quarter to the end of September was GBP98.2 million, compared to GBP101.4 million a year earlier. The company had flagged numerous times in its final results for last year that its revenue in the current financial year will be lower due exceptionally high sales it secured in Asia in the 2015 financial year.
Metrology sales were down to GBP93.7 million in the first quarter from GBP99.0 million, though stripping out the exceptional Asian revenue, sales were up 6.0% in the division. Healthcare revenue was GBP4.5 million, not far off double the GBP2.4 million it made a year earlier.
Renishaw said it remains difficult to predict whether it will receive any further big orders this year, though it remains confident in its prospects. It still expects its pretax profit for the full year to be GBP85 million to GBP105 million, but downgraded its revenue guidance to between GBP440 million and GBP465 million from GBP460 million to GBP485 million previously.
Shares in Renishaw were up 0.6% to 1,901.00 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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