Renishaw Shares Jump: Profit to Top Guidance Range

Renishaw (LON:RSW) shares surged more than 9% on Thursday after the engineering group said annual profit would come in at the top end of its guidance range.

The stock was last up 8.6% at 3,230p, though it remains down 1.9% so far this year.

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The FTSE 250 company said it expects revenue for the year ending 30 June 2025 to be around the middle of its £700 million to £720 million guidance range.

Adjusted profit before tax is forecast to be towards the top of its £109 million to £127 million range. Investors welcomed the update ahead of the company’s full-year results, which will be published on 18 September.

Alongside the trading update, Renishaw announced that Group Finance Director Allen Roberts will step down after more than 46 years at the company.

Roberts, who has held the role of finance director for over four decades, will not seek re-election at the annual general meeting in November and will remain with the group until December to assist with the handover.

“Allen has been a huge part of the Renishaw success story,” said co-founder John Deer, highlighting his role in establishing the company’s overseas subsidiaries. Interim chair Sir David Grant added that his “stewardship of Renishaw’s finances through an ever-evolving business landscape has been a cornerstone of its enduring success.”

A search has begun for a new chief financial officer.