LONDON, Jan 28 (Reuters) - Precision engineer Renishaw Plc said it was re
viewing its final dividend and implementing voluntary redundancies and part-time working as it confirmed a 7 percent fall in first-half profits.
The company, which warned on profits following lower demand in an unexpected preview of its interim results last week, said it was maintaining the interim dividend at 7.76 pence.
'We do not know how long this depressed demand for many of our products will persist, but fortunately - and as planned - we have no net borrowings,' Renishaw Chairman and CEO David McMurtry said in Wednesday's statement.
Shares in Renishaw, which lost a fifth of their value following Friday's profit warning, closed on Tuesday at 332.5 pence, valuing the company at 242 million pounds ($341.5 million).
(Reporting by Victoria Bryan) ($1=.7087 Pound) Keywords: RENISHAW/
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