The Renishaw Board has approved an interim dividend of 16.8p net per share (FY2024: 16.8p), which will be paid on 8 April 2025 to shareholders on the register on 7 March 2025.
Other financial highlights include:
H1 FY2025 revenue 3% higher at £341.4m (H1 FY2024: £330.5m):
2% revenue growth at constant exchange rates, excluding impact of forward contracts;
Growth in Americas and EMEA, lower revenue in APAC;
Manufacturing technologies up 4% at £322.6m, with growth from Position Measurement and Additive Manufacturing products, weaker demand from machine builders for Industrial Metrology products; and
Analytical instruments and medical devices 3% lower at £18.8m, with growth in Neurological products offset by lower Spectroscopy sales.
Profit before tax 2% higher at £57.5m (H1 FY2024: £56.5m):
Gross margin excluding engineering costs improved by 1.0% to 61.5%;
Operating profit up 9% at £51.6m at actual exchange rates, down 5% at constant currency; and
Profit before tax in Q2 was lower than Q1 due to less favourable currency contracts, adverse product mix, and one-off supply chain costs.
Adjusted cash flow conversion from operating activities above target at 100%, reflecting strong operating cash flows and planned lower capital expenditure:
Strong balance sheet, with cash and cash equivalents and bank deposit balances of £233.2m (30 June 2024: £217.8m).
