RECORD sales and a welcome return to growth are the main highlights of Renishaw’s latest preliminary announcement of results, which was released today, Wednesday, July 28.

The figures for the year, ending June 30, show total revenues were £181.6 million compared to £171.2 million in 2009.

A 57 per cent increase in revenues for the second half of the year, compared to the same period last year, and a 46 per cent rise for the first half are also recorded, which chairman and chief executive Sir David McMurtry attributes to a ‘superb performance by our manufacturing teams.’ Despite experiencing a comparative reduction in turnover in continental Europe and the UK, the report adds that there was modest growth in the Americas and even stronger development in the Far East, particularly China, and India.

Later it reveals a group operating profit of £28.1 million, compared to £6 million last year, and a profit before tax figure of £27.1 million in comparison to just £4.7 million in 2009.

Profit after tax amounted to £21.3 million, while last year’s figure stood at £3.6 million, resulting in earnings per share of 29.3p, compared to 4.9p last year.

"I am very pleased to announce the results for the year to June 30 has been characterised by a welcome return to growth and an accelerating order intake culminating in record final quarter sales," added Sir McMurtry.

"I am very grateful to all our employees worldwide for their loyalty and commitment, especially after the unprecedented difficulties and challenges which were successfully overcome last year.

"I now look forward to a more stable business environment in which our employees will continue to play a full and important part in generating a prosperous future for the company.

"It is clear from the strong second half performance that the company is showing real momentum going into the new financial year.

"Whilst economic uncertainties remain, we have a robust international business model that continues to spread its applications into new markets.

"Our particular optimism for further developments in the expanding range of healthcare offerings, together with our continued investment in new products in our traditional markets, underpins our confidence in future growth."