Demand soars for Renishaw

 
City A.M. Reporter
SHARES in British engineering company Renishaw soared 16 per cent yesterday as the firm reported a five per cent rise in full-year profit, helped by strong demand for its precision measuring products across its markets.

Renishaw, which makes measuring and inspection equipment for the metrology and healthcare industries, reported revenue of £103.1m for the fourth quarter.

Pre-tax profit rose to £86m from £82.1m a year earlier.

The company, which said all its divisions saw double-digit growth, raised its final dividend 15 per cent to 28.2p per share.

Renishaw’s FTSE 250-listed shares closed at £14.78.