Global engineering company Renishaw delivered record revenue of £713m in its last financial year.

That was a rise of 3.1% for the company, based in Wotton-under-Edge, for the year ending June 30.

Profit before tax up 3.8% at £127.2m for the year.

Manufacturing technologies revenue was 3.6% higher at £671.5m, but analytical instruments and medical devices revenue was 3.8% lower at £41.5m, with growth in neurological products being offset by lower sales of spectroscopy systems.

Gross engineering costs increased by 8.3% to £115.7m (excluding non-recurring costs) as Renishaw continued to invest in innovation, with distribution and administration costs 3% and 2.7% higher respectively.

Will Lee, chief executive officer, said: "I am pleased to report record revenue in FY2025, combined with an increase in adjusted profit before tax in what remain challenging market conditions. We continue to make solid progress with our innovation-led growth strategy, introducing many exciting new products this year and equipping our expanded manufacturing facilities for future growth.

"There has been a steady start to FY2026, in line with our expectations. Despite the continued global uncertainty, the structural drivers that underpin our markets are presenting growth opportunities across our businesses and at this stage we are expecting to achieve further steady revenue growth in the year ahead.

"We are focused on achieving our financial targets over time of high, single-digit average through-cycle revenue growth and adjusted operating profit margins of 20%. To improve our margins, we are continuing to invest in our IT transformation and productivity improvements, and we are reducing our fixed costs in relation to the size of the business with clear targets for production, engineering, distribution and administration costs."

Meanwhile, Renishaw, has appointed Clare Nicholls as its new group human resources director.

Clare joins from TT Electronics, where she most recently held the position of EVP human resources. Before joining TT, Clare worked at Boeing across its non-US business, and for Tata Steel and its predecessors across Europe.

Her expertise in business transformation, cultural engagement and talent development aligns closely with Renishaw's strategic priorities. Driven by a lifelong passion for science and engineering, Clare holds an MA in natural sciences from the University of Cambridge.

In her new role, Clare will lead the implementation of Renishaw's global people strategy, with a focus on people development, strengthening organisational culture and building capability across the business. She will also oversee HR and health and safety services worldwide, including early careers and STEM outreach.

Clare said: "I'm delighted to be joining Renishaw and look forward to working with employees across the business. I'm excited to help shape the company's future by building on its strong commitment to people and innovation."