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Rotary Position, Tilt and Angular Sensors
News Release from: Renishaw
Edited by the Engineeringtalk Editorial
Team on 02 August 2005
Record revenues for Renishaw
Renishaw has announced record trading figures for the year ended 30th June 2005.
Renishaw has announced record trading figures for the year ended 30th June 2005 Turnover increased by 21% to GBP 154.1 million, with growth in all geographical markets and product lines
There was significant growth in the Far East, especially Japan, the USA and Europe, including the UK.
Above-average product line growth was seen in digitising (including dental), machine tool and co-ordinate measuring machine products.
Operating profit increased by 60% to GBP 28.8 million and profit before tax rose by 55% to GBP 31.3 million, lifting earnings per ordinary share by 55% to 34.3p.
Commenting on the results, Renishaw's Chairman and Chief Executive, Sir David McMurtry, highlighted significant new product developments, extensions to the company's distribution network, and investments in new manufacturing capabilities: "There have been a number of new products successfully introduced during the year, in particular the Revo and Renscan5 providing unique five-axis scanning technology for use on co-ordinate measuring machines, which offer a step change in the level of accuracy and speed of measurement".
"We have also introduced the Signum RELM - a high accuracy linear scale with In-Trac optical reference mark, Procera Forte and Incise dental scanners, TRS1 - a tool breakage detection system, OMP60 spindle probe, RP120 interpolator and DX10 USB interface for our laser interferometer".
"Total research and development expenditure during the year, including engineering costs, amounted to GBP 25.4 million".
During the year, Renishaw opened new offices in India (Delhi and Pune) and Russia (St Petersburg and Perm) and staff in Nagoya, Japan completed a move to a larger office.
The Renishaw Group now has 33 offices operating in 27 countries.
Sir David commented that there are plans to make further investments in India, China and Turkey during the 2005-06 fiscal year.
The enormous growth in traffic to Renishaw's various websites was also mentioned, with a doubling of visitors during the year, often reaching over 160,000 visits per month.
Capital expenditure during the year was largely associated with manufacturing - both new plant and machinery, and the premises to house them.
Sir David noted that significant progress had been made in preparing the new Stonehouse (Gloucestershire) factory, acquired for GBP 5 million during the year, for the transfer of facilities from New Mills.
A new anodising plant has also been installed and when commissioned will commence operation in September 2005.
Total capital expenditure amounted to GBP 16.0 million, of which GBP 6.0 million was freehold property.
Sir David also recognised the contribution of Renishaw's employees, which now number 1865, a 6% growth over the year; "Recruitment has principally been directed at assembly and manufacturing in the UK, and overseas sales and marketing, especially in the Far East and India".
"Personnel are our prime resource without whom Renishaw's progress would not be possible".
"I give my sincere thanks and warm appreciation to them all". Request free introductory details about products from Renishaw ...
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