Renishaw sees profits fall amid weak demand

Engineering giant Renishaw has seen pre-tax profit fall in the first half of the year amid “challenging market conditions”. The Gloucestershire-headquartered company reported on Tuesday (February 6) that pre-tax profit for the six months ending December 31 had dropped 23% to £56.5m – compared with £77.8m the previous year.
Revenue at the London-listed firm was also 5% lower at £330.5m over the period. Manufacturing technologies revenue was lower by 6%, with growth in industrial metrology offset by weak demand for semiconductor manufacturing equipment.
Meanwhile, analytical instruments and medical devices revenue was up 16%, with strong growth in …