| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Renishaw profits rocket after cost saving drive
StockMarketWire.com
|
Healthcare technology group Renishaw's adjusted profit before tax jumped by more than 300% in the three months to the end of September when compared to the same period last year, it reported this morning.
The first quarter of the company's financial year saw total revenue decline to £116.9 million, down by 6%, but profit before tax reached £18.3 million compared to £4.3 million a year earlier.
The company said adjusted profit before tax benefitted from a number of actions taken last year to reduce the group's operating cost base, as well as global job retention grant income of £2.3 million.
It said it was in a "strong financial position" and continued to invest in various areas of the business.
"Given the continuing uncertain macroeconomic backdrop, including the pandemic, we continue to expect challenging market conditions, particularly in the aerospace and automotive sectors," Renishaw said.
At 8:03am: (LON:RSW) Renishaw PLC share price was +30p at 5740p
Story provided by StockMarketWire.com
|
|
|
|
|
|
