Skip navigation

Gloucestershire Business News

Record revenue of more than £500million for Renishaw

Renishaw has today reported a 25 per cent increase in profits in its full-year results.

The global engineering and technology giant, based in Wotton-under-Edge, announced an adjusted profit before tax of £109.1million and record revenue of £536.8million.

It also revealed that the number of people employed by the company had increased by 244, including 91 graduates and apprentices.

Sir David McMurty (pictured), chairman and chief executive, said Renishaw was confident of future growth despite the ongoing uncertainty about the UK leaving the European Union.

"I am pleased to report our 2017 annual results," he said. "We achieved a record turnover of £536.8million with an underlying revenue growth of 14 per cent at constant exchange rates.

"We report an adjusted profit before tax of £109.1million and a statutory profit before tax of £117.1million, an increase of 25 per cent on an adjusted basis.

"Our total shareholder return during the year was 67 per cent, ranking Renishaw in the top 25 in both the FTSE250 and FTSE350.

"Renishaw is a long- term business and we remain committed to strategic investments and R&D.

"In addition, over the past year, we have focused on underperforming business areas resulting in our discontinuing the activities of Renishaw Diagnostics Limited and the spatial measurement business.

"In spite of the potential headwinds brought about by the uncertainty of Brexit, we remain confident of future growth due to our innovative product base, extensive global sales and marketing presence, and relevance to high value manufacturing."

What do you think? Email mark@moosemarketingandpr.co.uk 

Related Articles

Versarien's revenues halve and losses rise Image

Versarien's revenues halve and losses rise

Forest of Dean-based advanced engineering group Versarien saw its revenues halve last year.

Gloucestershire company launches same-day service Image

Gloucestershire company launches same-day service

Gloucester-based Freemans Event Partners has launched a brand-new around-the-clock foodservice logistics offer.

Gloucester business expands at Elmbridge Court Image

Gloucester business expands at Elmbridge Court

Just three offices are now available for rent at Elmbridge Court, following the latest letting.

Cirencester town centre to deliver improved parking Image

Cirencester town centre to deliver improved parking

Better parking and traffic control improvements for Cirencester residents and businesses.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.