Business
Trading statement & Interim r
Trading statement & Interim r.
About this update from Renishaw Plc
[{"type":"text","content":"\n RNS Number : 1824M Renishaw PLC 23 January 2009 \n \n\n\n\nRenishaw plc\n\n23 January 2009\n\n\n\nTrading statement & Interim results preview\n\nTrading statement\n\nSince the announcement of the Interim Management Statement on 10 October 2008 the Group has experienced lower demand for its products than it anticipated at the time. As a consequence the Board expects that the results for the year to 30th June 2009 will be significantly below current market forecasts. A more detailed update on current trading and the outlook for the full year will be provided with the interim results on Wednesday 28 January. \n\nInterim results preview (unaudited)\n\nRevenue for the six months to 31st December 2008 is expected to be £102.7m, an increase of 12% over the £91.6m for 2007. This revenue, however, includes an £11.5m exchange rate benefit due to favourable currency movements compared with the previous year. \n\nOperating profit is expected to be £11.9m, compared with £13.0m in 2007, after charging £1.4m in respect of the legal costs relating to current patent infringement litigation in the United States. At constant exchange rates, operating profit would have been £4.7m. Profit before tax amounted to £14.0m, compared with £15.1m. Profit after tax was £11.2m (2007 £12.1m), giving earnings per share of 15.4p (2007 16.6p). \n\nThe Company's interim results for the six months to 31 December 2008 will be announced in full on Wednesday 28 January. \n\nEnquiries:\n\nSir David McMurtry\nAllen Roberts\n\nRenishaw plc\nRegistered office. New Mills, Wotton-under-Edge, Gloucestershire, GL12 8JR\nRegistered number. 1106260\nTelephone number. 01453 524524\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END TSTEXLFLKFBXBBF \n ","length":3234,"tagName":"div"}]