Renishaw Share Discussion Threads

[pugugly] 26/7/2018 07:37

Results out - Again fantastic
Repeat 903 above
"City analists seem have have got a facefull of "merde" - Management have as usual deliverd excellent results - For the moment one to still hold long term."

Record revenue of £611.5m, with growth at constant exchange rates of 18%

• Revenue growth in all metrology product lines, with strong growth in measurement and automation, co-ordinate measuring machine, machine tool and additive manufacturing product lines

• Revenue growth in all healthcare product lines, with strong growth in our neurological product line

• Record adjusted profit before tax of £145.1m, with growth of 33%

• Healthcare business achieves profit for the first time, with adjusted profit before tax of £0.3m (2017: £7.2m loss)

• Capital expenditure of £34.9m, providing for future growth

• Headcount increase of 332, including 122 graduates and apprentices

• Strong balance sheet, with cash of £103.8m, compared with £51.9m last year

• Dividend increased by 15% to 60.0p
Cannot ask for more - OK p/e High but RSW continues to deliver. year on year +++++

[broadwood] 26/7/2018 07:35

Results look strong. Superb company.

[4wingrove] 12/7/2018 10:51

This is a good share to trade or it is at present

[linhur] 28/5/2018 15:53

No takeover now after recent statement. 5 year rollover of agreement between David McMurtry and John Deer regarding on first preferences on each others shares if one or other dies.

[highlands] 09/5/2018 11:25

This should become a takeover target sooner or later

[pugugly] 09/5/2018 10:42

City analists seem have have got a facefull of "merde" - Management have as usual deliverd excellent results - For the moment one to still hold long term.

[redartbmud] 09/5/2018 08:02

broadwood

Of course.

red

[broadwood] 09/5/2018 07:56

I expect you will be red.

[redartbmud] 09/5/2018 07:54

Ticking along nicely.
Investor day tomorrow.
Having put out the Rns they can be more detailed in their comments.
it should be a good day for those attending.

[broadwood] 09/5/2018 07:22

Beating expectations.


- Healthcare technology group Renishaw revealed a trading update for the nine months to 31 March 2018.

Revenue from continuing operations for the first three quarters of the current financial year was £429.9m, an increase of 11.9% compared with £384.3m for the corresponding period last year.

The company experienced underlying growth at constant exchange rates of 16.4%, with growth in all regions.

In our metrology business revenue amounted to £406.6m compared with £361.4m for the same period last year, with an underlying growth at constant exchange rates of 16.9%.

Revenue in our healthcare business was £23.3m compared with £22.9m for the same period last year, an increase of 5.9% at constant exchange rates.

Adjusted profit before tax from continuing operations for the first three quarters amounted to £97.6m compared with a restated adjusted profit before tax of £70.1m for the corresponding period last year.

The group balance sheet remains strong with net cash balances of £91.2m as at 31st March 2018 (30th June 2017: £51.9m).

Notwithstanding current economic uncertainties, the Board remains confident in the future prospects of the group.

In our half year interim report, we forecast full year revenue to be in the range of £575m to £605m and adjusted profit before tax to be in the range of £127m to £147m.

Renishaw continue to expect growth in both revenue and profit for this financial year and now expect full year revenue to be in the range of £585m to £610m and adjusted profit before tax to be in the range of £135m to £150m.

Statutory profit before tax is expected to be in the range of £145m to £160m.

The preliminary full year results for the year ending 30 June 2018 will be released on 26 July 2018.

[philanderer] 09/4/2018 17:39

'Peel Hunt points to 'pivotal' years at IMI and Renishaw in sector review'



On Renishaw, which Peel Hunt referred to as a "superb business", the analysts gave it a "premium rating", but noted it was "not bullet-proof", and that its communication with the market had not always been sufficient for it to feel completely comfortable with its forecasts.

Peel Hunt singled out some longer-term concerns about Renishaw's management succession scenarios, but noted that as shares were coming back to within 5% of its target price, it made the move to bump its recommendation back up to 'hold'.

Renishaw itself anticipates full-year revenues of £575-605m, and a pre-tax profit of around £136-156m, while consensus was at £599.6m and £140.1m, while the broker itself had pushed for £601m and £144.5m.

The analysts highlighted that Renishaw's key to profitability will be its progress in Healthcare, which it expects to break even by the end of FY19E.

"Our TP equates to a PER of 24.6x FY19e, a premium that reflects the quality of the Renishaw business," the analysts concluded.

[philanderer] 04/4/2018 17:27

RSW for ftse100 say Goldmans

[sharesoc] 01/3/2018 14:51

There is an article on Renishaw in our recent newsletter. More details on our newsletters can be found here:

[zho] 26/1/2018 11:04

Discussed yesterday at

[r ball] 25/1/2018 21:40

The share price reflects expectations not actuality....

[dab26] 25/1/2018 16:51

My take would be that the shares were already up with events and on the earnings call, it was pointed out that the rate of growth decelerated somewhat in Q2 over Q1.

I didn't get the sense that there was any real concern over that, but on a stretched valuation I think it has prompted some investors to take some money off the table.

Add-in the management changes and the strength of the pound and the result is sharp-fall.

What the results show is that this is a quality outfit and if global growth continues to strengthen then I'm sure Renishaw will prosper in the medium-term.

[zho] 25/1/2018 15:56

Renishaw shares slide on profit taking

[patrick0999] 25/1/2018 15:50

I don't understand this panic 13% drop? The reports are positive.

[chrisgail] 25/1/2018 15:31

An ezxcellent set of results, doing from strength to strength. I can understand a few people are concerned about yesterdays news regarding Sir David stepping down but this is well planned. Today is an excellent buying opportunity.

[nocton] 06/11/2017 08:54

I've sold 20% of my holding at £53 as it was just getting too large a proportion of my share portfolio for comfort. And a p/e over 30 is demanding.
Looking back at my records, my first purchase of this share was at £4.65 in 2002. I've long since sold enough to reduce my book value to zero. An excellent investment which I am happy to hold for the longer term.

[pugugly] 06/11/2017 08:14

Still moving up - £53.00 to sell - I think this is an all time high - Could well retrace but a great BREXIT hedge (imo) even at this level. (Post largely as a marker for self if it falls back so I can kick myself - but judgement call made to stick !!)

[broadwood] 04/11/2017 08:38

Good thoughts all. I shall definitely stick with it long term, unless the story changes markedly.