British engineering company Renishaw plc (RSW.L) on Thursday reported a slightly lower pre-tax profit for its nine months, but with 4 percent growth in revenues.
The company's statutory profit before tax slid by 1 percent to 85.6 million pounds, while adjusted profit before tax grew up by 1 percent to 87.5 million pounds.
Year-to-date, revenue grew 4 percent to 522.1 million pounds from 502.9 million pounds. Revenue at constant exchange rates was up by 3 percent, including 6 percent growth in APAC, 1 percent growth in EMEA, and a 1 percent reduction in the Americas.
Looking ahead to the full year 2025, the company now expects adjusted profit before tax between 109 million and 127 million pounds, on revenues between 700 million and 720 million pounds. This compares to the earlier projected range of adjusted profit before tax between 105 million and 135 million pounds, on revenues between 695 million and 735 million pounds.
The company said its board has decided to close the loss-making drug delivery aspect of its Neurological business, which will lead to an annual increase in Group operating profit of c. 3 million pounds thereafter.
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