Edition:
United Kingdom

Renishaw Cuts FY Outlook For Adjusted Profit & Revenue


Tuesday, 14 May 2019 

May 14 (Reuters) - Renishaw PLC ::9M PRETAX PROFIT 84.8 MILLION STG VERSUS 104.4 MILLION STG YEAR AGO.9M REVENUE FROM CONTINUING OPERATIONS ROSE 0.3 PERCENT TO 431.1 MILLION STG.NOW EXPECT FULL YEAR REVENUE TO BE IN RANGE OF £580M TO £600M.ADJUSTED PRETAX PROFIT FROM CONTINUING OPERATIONS FOR FIRST THREE QUARTERS AMOUNTED TO £79.6M COMPARED WITH AN ADJUSTED PROFIT BEFORE TAX OF £97.6M.STATUTORY PROFIT BEFORE TAX AMOUNTED TO £84.8M (2018: £104.4M) FOR FIRST 3 MONTHS.GROUP BALANCE SHEET REMAINS STRONG WITH NET CASH BALANCES OF £120.5M AS AT 31 MARCH 2019 (30 JUNE 2018: £103.8M).RENISHAW -FY ADJUSTED PROFIT BEFORE TAX IS NOW EXPECTED TO BE IN RANGE OF £105M TO £120M AND STATUTORY PROFIT BEFORE TAX IN RANGE OF £111M TO £126M.NOTWITHSTANDING CURRENT ECONOMIC UNCERTAINTIES, BOARD REMAINS CONFIDENT IN FUTURE PROSPECTS OF GROUP.