Renishaw H1 Income, Revenue Decline

Source: FinanzNachrichten.de

LONDON (dpa-AFX) - Renishaw Plc (RSW.L), a British engineering company, on Tuesday reported a decline in pre-tax income for the first-half, amidst a decline in revenue, reflecting a weak demand, and higher expenses.

For the six-month period, the firm posted a pre-tax income of 56.541 million pounds, compared with 77.814 million pounds, reported for the same period previous year.

Excluding items, pre-tax income moved down to 56.5 million pounds from previous year's 73.5 million pounds.

After tax, profit stood at 45.177 million pounds or 62.1 pence per share as against last year's 64.068 million pounds or 88.1 pence per share.

Adjusted income per share fell to 62.1 pence per share from previous year's 83.4 pence per share.

Operating income slipped 47.194 million pounds from 71.298 million pounds a year ago.

Cost of sales stood at 175.904 million pounds, higher than 172.442 million pounds last year.

Administrative expenses were 38.520 million pounds, up from last year's 35.311 million pounds.

Financial expenses stood at 0.351 million pounds, compared with 0.290 million pounds a year ago.

Revenue was 330.489 million pounds, down from 347.679 million pounds in 2022.

Revenue from Manufacturing technologies segment, which comprises Industrial Metrology, Position Measurement, and Additive Manufacturing businesses, was down at 311.1 million pounds, compared with 330.9 million pounds last year.

The company will pay an interim dividend of 16.8 pence per share, unchanged from last year's 16.8 pence per share, which will be paid on April 9, to shareholders on the register as of March 8.

Looking ahead, Renishaw expects an improvement in its trading performance in the second half as market conditions improve.

For the full year, the company expects adjusted profit before tax of 122 million pounds to 147 million pounds with revenue of 675 million pounds to 715 million pounds.

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFXTrading-Plan 2024: Die Performance-Strategie für das neue JahrDer kostenfreie Trading-Plan von Stefan Klotter gibt Ihnen einen exklusiven Einblick, in welche Branchen, Sektoren und Assets Sie im Jahr 2024 investieren sollten, um eine satte Rendite zu erzielen. Jetzt sichern!Hier klicken