Renishaw lifts guidance again on booming order book, shares spark.
Renishaw shares jumped on Monday after the UK engineering group lifted earnings and revenue guidance for the second time in three months on the back of “particularly strong” demand from customers, boosting its order book.
Source: Sharecast
The company now expects annual revenue of £775m to £805m and adjusted profit before tax of £145m to £165m compared with upgraded guidance of £740m - £780m and £132m - £157m given in February. Shares in the firm were up 7% at one point in London trade against a falling market.
Renishaw said there had been a "substantial" expansion in its order book from the semiconductor and electronics manufacturing equipment, and defence & aerospace sectors.
“We are actively managing the challenges and increasing costs imposed by ongoing economic and geopolitical uncertainties and supply chain pressures,” it added in a trading statement on Monday.
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