Renishaw posts fall in H1 profit but remains confident for the future

British engineering company Renishaw posted a fall in first-half profit attributable to shareholders to £52.0m, from £56.9m a year earlier, but said it remained confident in its future prospects.

"We expect full-year revenue to be in the range of £635m to £665m and adjusted profit before tax to be in the range of £140m to £160m. Statutory profit before tax is expected to be in the range of £146m to £166m," the company said on Thursday.

For the six months to 31 December 2018, it saw a 6% increase in revenue to £296.7m and reported growth across all regions except the Far East, which was impacted by a slowdown in demand for its encoder products and from large end-user manufacturers of consumer electronic products.

At 8:15am: (LON:RSW) Renishaw PLC share price was +50p at 4414p