Engineering firm announces record rises in revenues across the globe


Engineering and advanced manufacturing firm Renishaw saw revenues increase by seven per cent to just under £348m in the first half of the year.

The business, which was founded by Sir David McMurty and John Deer, is one of Gloucestershire’s leading employers.

In its half year report the firm said it had seen record revenues. As a result adjusted profit before tax now stands at £73.5m.

The company said there will be targeted investments in headcount and pay for long-term growth and there will be an Interim dividend of 16.8p per share.

William Lee, Chief Executive, said: “I am pleased to report record revenue in a period of expected lower demand from the semiconductor and electronics sectors.

“We have made good progress in our strategy; gaining market share, introducing new products into close-adjacent markets and taking advantage of long-term growth opportunities in additive manufacturing, shop-floor measurement, materials research and semiconductor manufacturing.

“We continue to invest in our people, product development and infrastructure to deliver sustainable, long-term growth.”

Renishaw is a world leading supplier of measuring systems and production systems.

Its market leading technology  helps manufacturers across the world innovate their products and processes.

Renishaw is now a global business, with operations in three sales regions; the Americas, Europe, and Asia Pacific.

Most of the firm’s research and development takes place at the company’s headquarter in Wotton-under-Edge and the largest manufacturing sites are in the UK, Ireland and India.

Group headcount increased by 53 since the end of June and was 5,150 at the end of December 2022.