Renishaw Plc - Trading Statement ended 30 June 2020.
This content has been sourced from: https://www.investegate.co.uk/renishaw-plc/rns/tra...
17 July 2020
Renishaw plc, the global high-precision metrology and healthcare technology group, publishes this trading update for the financial year ended 30 June 2020. It contains unaudited information that covers the financial year and the period since.
Full year revenue is expected to be around £510m, with adjusted profit before tax of around £50m.
Statutory profit before tax is expected to be around £4m, compared with the £31m to £41m range published in our trading update of 12 May 2020. Items included in statutory profit before tax that are excluded from adjusted profit before tax are:
· restructuring costs of approximately £24m following the reorganisation and rationalisation of certain operations, particularly related to our additive manufacturing business; and
· approximately £22m of fair value losses of financial instruments not eligible for hedge accounting. There was no impact on the group net assets, cash balances or future cash flows resulting from these losses.
In light of the pandemic, the Board has focused on cash preservation and the Group balance sheet remains strong.
We can now confirm that the preliminary results for the year ended 30 June 2020 will be released on 13 August 2020.