Renishaw reports record pre-tax profits

In an interim report issued today Renishaw PLC stated its pre-tax profits rose in the first half of 2022 and reports the board is confident in the company’s long-term prospects.

Renishaw, based near Wotton-under-Edge and with sites in Stonehouse and Woodchester, said that for the six months ending December 31st pre-tax profit was £81.5 million compared with £63.9 million for the first half of 2021. The company saw revenue growth of 27 per cent to £325.2 million compared with £255.1 million in the first half of the previous year.

Adjusted pre-tax profit was £84.2 million compared with £43.4 million the year before.

The company said it expects demand from the semiconductor and electronics sectors to remain strong, and that the recovery was seen in the machine tool market and co-ordinate measuring machine market will continue.