Attended recent AGM (on one of several large Freehold sites owned) and quite like overall picture of what I saw.Manufacture high tech sensor equipment. Bought earlier this year at 735p, saw them drop sharply on adverse analyst comment before recovering to same sort of level.Presentations implied basic trading strong, prospects good and they are gradually switching some manufactured product to Far East. Lots of sales in US$, so exchange hurts at present, but ungeared and healthy yield over 3%. Particularly appealing bit is that controlling directors both now late 60s and succession must be beginning to concentrate their minds. IMO they may well be taken over in next 5 years and if trading continues as good as it looks, there could be decent rewards for the patient.Always DYOR

StockMarketWire.com
Renishaw's H1 pretax profit was £56.6m, to £25.6m. Revenue rose £223.8m, from £163.9m. It proposed a dividend of 12.5p a share.

H1 revenue growth was 90% in the Far East, 14% in the Americas and 16% in the UK.

In Europe, revenue was marginally lower by 2%, although 4% higher at constant exchange rates. More specifically, revenue in the Far East increased from £59.1m to £112.4m, in the Americas from £40.4m to £46.1m and in the UK from £10.5m to £12.1m. Revenue in Europe was £47.7m, compared with £48.8m last year.

Looking ahead, Renishaw said it had experienced a strong H1 and, as indicated, the trend in revenue growth was expected to continue into H2.

"We currently anticipate full year revenue to be in the range of £480m to £510m and profit before tax to be in the range of £130m to £150m.

"Research and development continues at a strong pace and a number of additional products will be introduced this year. Furthermore, we are expanding our sales and marketing activities throughout the Group. We remain confident of the Group's prospects for both this year and the future."

wish i'd bought this at £3 in 2009...... :(