Renishaw expects full-year profit ahead of expectations after a record fourth quarter, with revenue of approximately £243m in the three months to 30 June, up 27% year-on-year and 18% above the third quarter.
It was a short trading statement issued this morning, but good news doesn’t require embellishment.
The precision measurement specialist said growth accelerated throughout the year, driven by strong demand from the semiconductor and electronics manufacturing equipment sector alongside aerospace and defence customers.
Full-year revenue is expected to reach approximately £815m, 14% higher than the prior year, with all three segments delivering growth and particularly strong progress in Specialised Technologies and Position Measurement.
Adjusted operating profit is expected to be approximately £152m, with adjusted profit before tax of around £167m, up 31% on the prior year.
Full results are due on 23 September.