January 26, 2017 / 8:04 AM / 3 years ago

Precision engineer Renishaw forecasts higher full-year profit

Jan 26 (Reuters) - Precision engineering group Renishaw Plc forecast full-year profit and revenue ahead of the previous year, as growth across its regions despite certain economic uncertainties helped it post higher results for the first six months.

Renishaw, which supplies products and services used in jet engines, wind turbines, dentistry and brain surgery, said it expected pretax profit of 85 million pounds to 105 million pounds ($107 million-$133 million) for the year ending June 2017.

The company also set full-year revenue guidance at 500 million pounds to 530 million pounds.

Renishaw had reported a pretax profit of 80 million pounds and revenue of 436.6 million pounds in the year earlier.

Pretax profit grew 25 percent to 35.7 million pounds for the six months ended December, while revenue grew 21 percent to 240.4 million pounds, the company said.

Results were boosted by particularly strong growth from the Far East, Renishaw’s largest region that consists of Japan, Hong Kong, Australia, South Korea, Singapore and the People’s Republic of China. ($1 = 0.7918 pounds) (Reporting by Esha Vaish and Vidya L Nathan in Bengaluru; Editing by Gopakumar Warrier)

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