Skip navigation

Gloucestershire Business News

Confidence and rising revenues from major employer amidst the Brexit gloom

Revenue rose to £296.7 million for one of the county's biggest employers and world-wide success stories - and it remains "confident" of future prospects.

For those craving some positive news among the swirling black clouds of Brexit results for the last six months for the engineering firm from Gloucestershire are the place to go.

Growth in its core metrology sector was up five per cent and in healthcare up 25 per cent, thanks in a large part to its spectroscopy product line.

Only its profit (adjusted before tax of £59.6m) show a fall - from £62.3m in 2018.

Sir David McMurtry, founder and executive chairman, said: "Notwithstanding current economic uncertainties, the board remains confident in the future prospects of the Group.

"We expect full year revenue to be in the range of £635m to £665m and adjusted profit before tax to be in the range of £140m to £160m. Statutory profit before tax is expected to be in the range of £146m to £166m."

The firm's dividend was 14 pence per share and there was a "strong balance sheet", with net cash of £100.5m (June 2018: £103.8m).

Related Articles

Four Gloucestershire pubs have been sold by Wadworth brewery in multi-million pound deal Image

Four Gloucestershire pubs have been sold by Wadworth brewery in multi-million pound deal

Four of the six pubs listed for sale by the Wiltshire-based brewery in May have been purchased by Red Oak Taverns.

Jaguar building new electric cars in Britain is great news for Gloucestershire Image

Jaguar building new electric cars in Britain is great news for Gloucestershire

Jaguar Land Rover is expected to announce plans to build new electric cars in the UK.

Breast cancer survivor to host charity ball  Image

Breast cancer survivor to host charity ball

A spectacular ball to raise money to fight breast cancer will take place at Pittville Pump Room in the autumn.

Cheltenham-based legal experts advise parking firm on private equity deal Image

Cheltenham-based legal experts advise parking firm on private equity deal

Lawyers for Harrison Clark Rickerbys in Cheltenham advised shareholders and management at Devon-based Premier Park on their private equity funding from Sovereign Capital Partners.

Copyright 2019 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.