Renishaw Plc reported record results for its full year figures, with profits up 66.1% to ú9.7m on a turnover of ú62.7m, 23.2% up on last time. The scientific measurement and opto-electronic specialist said heathly figures were principally due to a strong recovery of sales in Germany and Japan, although the company said that each of its subsidiaries contributed to the growth in group turnover. It also said that there had been a continued growth in demand for all of its products across the board. Although much of the additional turnover in recent years had been attributable to recently-developed products, the company said that it would continue to invest heavily in existing and new products. Research and development expenditure increased to ú4.6m from ú3.5m, and the company spent an additional ú2.5m on on products and process engineering bringing the total spend up to ú7.3m. In an attempt to improve manufacturing and assembly efficiencies, the group has increased stock levels to satisfy shorter lead times an meet increasing levels of activity. The company’s share price rose 36 pence to 400p on announcement of the figures.
