Renishaw returns to growth

Having divided its operating, research and development and reporting activities into two main segments: the traditional metrology business and the as yet smaller healthcare activities, Renishaw reported that metrology revenue grew to £162.1m from £152.9m in 2009, while healthcare sales amounted to £19.5m (2009 £18.4m). Metrology highlights included the introduction of a number of new products including a wireless device for checking the servo-ing performance of three-axis machine tools; compact probes with radio and optical signal transmissions for multi-axis and mill-turn machine tools and lathes. Last week, the Group acquired a 29% shareholding in Measurement Devices Limited (MDL), a metrology company based in York, for £2.3m. Its laser scanner products are primarily marketed in the areas of marine positioning and mine/quarry scanning. The Healthcare segment, which comprises neurosurgical, dental and spectroscopy products, recently entered into an agreement with a world leading dental implant company, Biomet 3i LLC, which will see Biomet marketing Renishaw dental scanners, in-lab milling machines and dental software to dental laboratories through its global marketing and sales organisation. Prospects Chairman and chief executive Sir David R McMurtry said Renishaw had a record order book and, although economic uncertainties remained, he was confident of future growth. Total revenues for the year to 30th June "supported by a superb performance by our manufacturing teams" were £181.6m (2009 £171.2m), and generated a pre-tax profit of £27.1m compared with £4.7m for the previous year.