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Renishaw PLC on Thursday reported lower revenue in the first quarter, but maintained it had made a ‘steady start’ to financial 2026. The Gloucestershire, England-based firm supplies manufacturing technologies, analytical instruments, and medical devices. For the three months that ended September 30, Renishaw posted £170.8 million in revenue, down 1.8% from £173.9 million a year prior. However, at constant exchange rates, the firm noted 2.8% revenue growth on-year. Reported revenue growth in the Americas and Asia-Pacific was 5.7% and 6.6% respectively. This was offset by a 20% decline in Europe, Middle East & Africa. At constant currency, the Americas and APAC grew by 11% and 15% respectively, while EMEA revenue fell 21%. According to Renishaw, global market conditions ‘remain mixed’, though it maintains that financial 2026 has been tracking in line with expectations, and sees ‘steady’ revenue growth in the year ahead. The firm added that it has met its £20 million annualised payroll savings target by cutting staff in the first quarter, with employee headcount down 6.5% at the end of September compared to the end of June. ‘We continue to progress a number of productivity initiatives, aimed at enhancing efficiency and improving returns in line with our medium-term targets,’ Renishaw said. The process of closing the drug delivery arm of its non-core neurological divison is expected to conclude by the end of the second quarter. The company’s shares fell 5.5% to 3,510.00 pence on Thursday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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