Renishaw invests in engineering despite profits dip

Renishaw_31The engineering group Renishaw today reported a dip in profits during the first half of its financial year ending December 2013 but said that it was continuing to invest in production and engineering.

It had incurred capital expenditure of £19.5m, including the new 145,000 sq ft facility it was building at its New Mills headquarters in Derbyshire and expanded facilities in Germany.

Renishaw said there had been strong demand for its 3D additive manufacturing, measurement automation, encoder and spectroscopy products and new product releases included the Sprint high speed contact scanning system for machine tools.

The healthcare division had seen further sales of the neuromate surgical robot and the company is manufacturing an investigational intra-parenchymal drug delivery system for an NHS Trust, which is conducting a clinician-led clinical trial for a therapy for the treatment of Parkinson’s disease. The system has also been trialled by the Trust for delivery of a chemotherapy drug for the treatment of brain tumours.

For the six months to 31 December 2013, Renishaw reported revenue of £164m (down from £174m for the same period in 2012) and pre-tax profit of  £25.6m (£45m).

Renishaw explained that the first three months of the period were subject to tough comparators due to exceptionally high revenue from certain Far East customers in the first quarter of 2012 but it is expecting an improvement in trading and revenue in the second half in the coming six months.

Copyright Ken Hurst 2014

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About Ken Hurst

Ken Hurst began his career as a journalist in London over 30 years ago, working on a range of publications before moving on to weekly newspaper production in the newly-independent Zambia of the 1970s. He returned to the UK where his work included spells on newspapers and magazines, before moving to head up Norwich Union’s corporate affairs division. In the 1990s he moved on to freelance, co-own and publish the B2B audio magazine Sound and front the BBC radio Yesterday’s Papers programme. There followed six years as Business Editor at Britain’s biggest selling regional daily newspaper, The Eastern Daily Press, where he led an award-winning team and for whom he still writes a weekly socio/political comment column. Subsequently, he was Group Editorial Director at CBM, responsible for its UK and US magazine output – including The Manufacturer magazine – research-driven industry reports and live events content. Currently he is Contributing Editor at Works Management magazine publisher Findlay Media and Chairman of the consumer publishing house TNT Multimedia Ltd. He is a Fellow of the Royal Society of Arts and of the British Association of Communicators in Business.
This entry was posted in advanced manufacturing, Company results, engineering, machinery, Manufacturing management, medical, Pharma, robotics and tagged , , . Bookmark the permalink.

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