Renishaw plc, Gloucestershire, UK, has announced its preliminary results for the year ended June 30, 2017. According to the report, the company achieved a record revenue of £536.8 million, with an underlying growth of 14%.
The company saw a 25% increase in adjusted profits to £109.1 million before tax, compared to £87.5 million in the previous year. Capital expenditure was £42.6 million, of which £24.2 million was spent on property and £18.4 million on plant and equipment.
Renishaw’s metrology business, incorporating the company’s Additive Manufacturing (3D Printing) product line, reported revenues of £503.4 million, compared to £398.9 million in the previous year. Growth continued in all sectors, with the Far East achieving the highest level of sales at £237.9 million, up 28%.
Adjusted operating profit for the metrology was £115.9 million (previous year: £90 million). During this period, the company launched its RenAM 500M Additive Manufacturing system and opened two new AM solutions centres in Germany and the USA.
Renishaw’s healthcare segment saw an overall revenue of £33.4 million, up 18% from £28.4 million in 2016. Investment into research and development continued, with total engineering costs reaching £9.2 million compared to £7.9 million in 2016. The company’s medical dental product line experienced good growth with a continued focus on the sale of Additive Manufacturing technologies and equipment into the healthcare market. However, despite good growth, the business reported an adjusted operating loss of £7.2 million and has yet to move into profit.
Renishaw reported that it will continue to invest for the long term and is expanding its global marketing and distribution infrastructure, along with increasing manufacturing capacity and research and development activities. During the past year, the company completed construction on its new US headquarters in Chicago, USA, as well as new facilities in Detroit, USA, and expanded and refurbished its facilities in Spain, Sweden, Hungary, Germany and France.