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Charlotte Stonestreet
Managing Editor |
ARTICLE
Second profit warning of the year from Renishaw
14 May 2019
UK engineering and scientific technology company Renishaw has cut its annual profit forecast for the second time in less than two months, as customer demand remained weak, sending shares to a two-year low.
The FTSE 250 group announced a fall in profits for the last nine months of 18.4%, down from £97.6m to £79.6m.
According to the company adjusted profit before tax is now expected to be in the range of £105m to £120m.
In March it cut its profit forecast to between £111m to £135m.
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