Renishaw targets £605m in revenues as H1 profits rise

Engineering firm Renishaw said adjusted first half pre-tax profits rose to £62.3m from £36.1m as it targeted full year revenues of £605m.

Six month revenue was up 17% to £279.5m, with underlying growth of 20% at constant exchange rates.

Statutory pre-tax profit was £66.2m, compared with £25.3m a year earlier.

Renishaw said it expected full year revenue and profit growth targeting the former in the range of £575m - £605m, adjusted profit before tax of £127m - £147m and statutory pre-tax profit of £136m - £156m.