- Renishaw said a slowdown in demand in Asia for its encoder products and from large end-user manufacturers of consumer electronic products is expected to continue for the rest of the financial year, hitting profitability.

The company announced full year revenue will be in the range of £595m to £620m and adjusted profit before tax to be in the range of £117m to £135m. Statutory profit before tax is expected to be in the range of £123m to £141m.

This is lower than a forecast revenue range for the year of £635m to £665m and an expected adjusted profit before tax of between £140m and £160m in half year results in January. Statutory profit before tax was expected to be in the range of £146m to £166m.

The trading statement for the nine months to 31 March 2019 will be released on 14 May 2019.

At 9:04am: [LON:RSW] Renishaw PLC share price was -482p at 3718p

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