LONDON (dpa-AFX) - Renishaw Plc (RSW.L), a British engineering company, on Thursday reported a decline in preliminary earnings for the full year, reflecting increased costs. However, the firm registered a rise in revenue.
For the 12-month period to June 30, Renishaw posted a pre-tax income of 122.594 million pounds, compared with 145.065 million pounds, reported in the previous year.
Excluding items, pre-tax income moved down to 122.6 million pounds from last year's 141 million pounds.
After tax, profit was 96.889 million pounds or 133.2 pence per share, lesser than prior year's 116.102 million pounds or 159.7 pence per share.
Adjusted income per share fell to 133.2 pence from 155.1 pence a year ago.
This reduction in profit primarily relates to the impact of currency and increased employee pay, including 2.1 million of severance costs.
Operating income stood at 108.667 million pounds, lower than 134.489 million pounds in 2023.
Cost of sales increased to 367.658 million pounds from last year's 337.908 million pounds.
Revenue was 691.3 million pounds, up from previous year's 688.6 million pounds.
Revenue from analytical instruments and medical devices increased by 7 percent, year-on-year, to 43.2 million pounds. This reflects a rise in the sales of spectroscopy product line, with stronger demand in EMEA, and neurological product line, including sales of neuromate surgical robot to diagnose patients with epilepsy.
The company will pay a final dividend of 59.4 pence per share, bringing the total full-year dividend to 76.2 pence per share, which is unchanged from last year.
Looking ahead, Will Lee, Chief Executive of Renishaw, said: 'The start of FY2025 has seen continuing improvement in demand for our encoder products from the semiconductor manufacturing sector, primarily in the APAC region. This, together with a range of growth opportunities that we are pursuing, especially for metrology and additive manufacturing systems, means that we are expecting to achieve solid revenue growth in the year ahead.'
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