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in today. quiet board.? nice rise today, but looks like its being sold into.
Folks - it would seem 'not' was the answer as regards whether to buy ! - its not an easy game this!
Outlook It is still very early in the financial year and the Group traditionally has an order book of a little over one month's sales value. During the first quarter order intake has exceeded revenue and the Group has an order book of £31.9m at the end of September 2011. Due to current uncertainties surrounding the global economy, the Board is closely monitoring the Group's costs and future recruitment strategy. Despite near-term challenges caused by the economic environment, we remain focused on positioning the Group for further long-term growth.
Significant events and financial position We are reviewing our healthcare business and have refocused part of the activities to a smaller number of projects, with some resources diverted to our metrology business. The purchase of the Miskin premises, close to Cardiff in South Wales, was completed on 30th September 2011 and the Group also acquired premises for its Canadian and Italian subsidiaries. The aggregate cost of these acquisitions was £9.0m. The Group continues to have a strong balance sheet with net cash balances at 30th September 2011 of £29.3m (30th June 2011 £34.6m). I should like to thank our staff for their continuing efforts and support.
Interim management statement This statement has been prepared for the Group and relates to the three months ended 30th September 2011. It contains unaudited information that covers the first quarter and the period since. Trading activity Revenue for the three months to 30th September 2011 was £70.5m, an increase of 15.0% over the £61.3m for the first quarter of the previous year but below planned-for revenue. The previous year has been restated for the inclusion of Measurement Devices Limited from July 2010, which was initially accounted for as an associate company. Geographically, Europe reported growth of 26% over the comparable period last year and the Americas a growth of 21%. The Far East, an area of significant growth last year, showed revenue for this quarter at a similar level to the corresponding quarter last year. By market sector, we have seen a slowdown in one of our product lines sold to the electronics industries. Profit before tax for the first quarter amounted to £13.6m, compared with £15.1m last year. The Group has increased its cost base compared with the comparable period last year, mainly by the addition of personnel to support its growing revenue and production demands, and investment in its research and development programmes. Headcount at the end of September 2011 was 2,745, an increase of 70 from the start of the financial year at 1st July 2011 and an increase of 538 over the 2,207 personnel at 30th September 2010.
http://www.investegate.co.uk/Article.aspx?id=201110131105581203Q
whats the deal here? sat on big support line and touching fib retrace level. buy or not?
one of the few on the watchlist that seem excellent value. Which to chose though ? Need a calm evening for thought & to balance risk, reward, timing & potential. Rgds
Steve yes good potential for 20% here Wotton-under-Edge is a quaint country town at the periphery of the Cotswolds. It is also home to Renishaw, a company making some of the most advanced tools and measuring systems in the world. The stock has lost a third of its value in less than a month, hit by concerns about global economic conditions, prospects for manufacturing worldwide and the impact on Renishaw’s future growth. These fears seem overdone, says the Mail on Sunday.
good Midas article & buy recommendation http://www.dailymail.co.uk/money/markets/article-2030844/MIDAS-Renishaw-buy-despite-shares-fall-amid-market-jitters.html
Adjusted pre-tax profits at Renishaw (RSW) were up 181% year-on-year, at 80.4 million pounds, but this figure is below market expectations of 83.4 million pounds. This comes on the back of increased revenues of 288.7 million pounds, up 59%. The engineering company reported growth across all geographic areas and noted that China has become the group's largest market, with revenues of 54.3 million pounds, up from 34.2 million pounds in 2010. Shares in Renishaw slid 196p to 1,690p.
Buy even if only for short term recovery.
A surge in demand for its precision measurement systems has helped Renishaw (RSW) complete a remarkable turnaround, with the engineering company reporting a fivefold increase in interim pre-tax profits. The shares soared 263p to 1,598p. For the six months ended 31st December 2010, the company said pre-tax profits rose to 35.5 million pounds on revenue up 75% on the comparable period a year earlier to 129.3 million pounds. Sir David McMurtry, chairman and chief executive, said: "All geographic areas saw good progress, with growth of 60% in Europe, 66% in the Americas and 103% in the Far East, in particular China which has become the group’s largest market."
I Itoo have noticed a trend towards engineers and industrials making the top-risers charts lately. I got a feeling from certain hints in the newsletters last year-end that commodities were going out of favour in 2011 and engineers would become more to the fore. Maybe it is to do with a strengthening dollar and better export profits?
No funds though. Lesson to be learned , don't dismiss boring engineers, another example is DNO and XAAR they are out there chaps.
good article on Renishaw today... All about China... problesm getting good staff... £35mn for 6 month period and mgmt expect continued growth... Good solid company, world class products. multibagger over the past 12 months.... 20% more to come over next year would not be a surprise....£1bn mcap good safe bet.
No one talk about this share....? look at the 12 month chart. Good financials announced today, strong order book...
Lovely chart. LONDON (Dow Jones)--Renishaw PLC (RSW.LN), a company engaged in the design, manufacture and sale of precision metrology and inspection equipment, said Wednesday that it made pretax profit of GBP27.1 million for the year ended June 30, compared with GBP4.7 million, and said it was confident of future growth.
This firm is getting stronger and stronger, They have orders coming out there ears, Taking more staff on and have a good business mind
whats do people think about this firm... i been reading/reseraching and this year there has been a strong link for the streagy seasoning pattern, where the electrical and electronic firms could be a strong buy for Q4, i also been watching courus which has hit new lows recently which could be strong for september buy too.