10th Oct 2008 07:30
RENISHAW PLC
INTERIM MANAGEMENT STATEMENT FROM
1st JULY 2008 to 30th SEPTEMBER 2008
Revenue for the first 3 months of the current financial year increased by 24% to £53.0m, compared with £42.7m last year (an increase of 14% at constant exchange rates). Unaudited profit before tax amounted to £9.8m, compared with £5.6m last year. In addition to strong trading results, profits have been assisted by the weakness of Sterling to the extent of profit before tax increasing by £2.9m due to favourable exchange rate movements relative to the comparable period last year.
It is still very early in our financial year and worldwide economic conditions are extremely uncertain. Notwithstanding this present situation, we are encouraged by the continuing strength of our order book and the increasing market opportunities for the application of our technologies. The Board remains confident of the Company's prospects for the current year.
Sir David McMurtry CBE, RDI, CEng, FIMechE, FREng
Chairman and Chief Executive
10th October 2008
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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