Renishaw engineering announces record results

A Gloucestershire engineering firm which specialises in industrial measuring equipment has announced record results for the past year.

In 2009, Renishaw, based in Wotton-under-Edge, shed 312 jobs and staff were put on a four-day week after sales fell drastically.

The company now says in the 12 months to 30 June, total group revenue was almost 60% ahead of the previous year.

Pre-tax profits are also up to more than £80m compared to £28.7m last year.

In the annual report released on Wednesday, Sir David McMurtry, the company's chairman and chief executive, said: "Total group revenue for the year was £288.7m, 59% ahead of the £181.6m for last year and, more importantly, 43% above the previous highest year's revenue of £201.2m reported in 2008."

"All geographic areas saw good progress, with growth of 64% in Europe, 57% in the Americas and 61% in the Far East, particularly in China, which has become the group's largest market, with revenues of £54.2m this year," he added.

Renishaw now has about 140 job vacancies, mainly in Gloucestershire.

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