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Renishaw results mark positive year of recovery

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Renishaw’s full-year results for the period ended 30th June 2021 have just been released to the London Stock Exchange.

Revenue was £565.6m, up 11 per cent on 2020. Manufacturing technologies (formerly Metrology) revenue increased by 11 per cent to £526.2m, with record demand for encoders, driven by booming semiconductor and electronics capital investment.

Analytical instruments and medical devices (formerly Healthcare) revenue increased by 12 per cent to £39.4m.

“We have recovered well and our employees have shown great resilience in maintaining supply and excellent levels of support to our customers around the world. I am excited about our new products in development and the opportunities presented by global market trends,” said Sir David McMurtry, Renishaw’s Executive Chairman.

The company says its priorities during the pandemic ‘continue to be the health and welfare of our employees, their families and the wider communities in which we operate, and to maintain high service levels to our global customer base.’

A formal sale process, which commenced in March 2021, was concluded in July with no suitable offers that satisfactorily met the interests of all stakeholders.

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