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(Sharecast News) - Shares in Renishaw surged on Friday after the measurement and manufacturing systems company reported a strong end to the year, with annual profits expected to rise 31%.
Growth accelerated throughout the year, the company said, resulting in record quarterly revenues of 243m in the three months to 30 June, up 27% year-on-year and 18% higher than the third quarter.
"Demand remained strong from customers in the semiconductor and electronics manufacturing equipment sector, and from the aerospace and defence sector," the firm said.
As a result, revenues for the year totalled 815m, up 14% over the year before, with all three business segments delivering growth.
As for the bottom line, adjusted pre-tax profit is expected to be around 167m, up from 127m the year before and ahead of the top end of Renishaw's own guidance range of 145m-165m reported in May. Results will be released on 23 September.
The stock was up 8.5% at 5,370p by 0905 BST.
See the latest RNS on Investegate.
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