LONDON (dpa-AFX) - Shares of Renishaw plc (RSW.L) were losing around 5 percent in the morning trading in London after the high-precision metrology and healthcare products manufacturer reported Thursday lower profit in its fiscal 2019 with weak revenues.
For the year, profit before tax declined 29 percent to 109.9 million pounds from 155.2 million pounds last year. Earnings per share dropped 30 percent to 126.7 pence from 181.8 pence a year ago.
Adjusted profit before tax was 103.9 million pounds, compared to 145.1 million pounds last year. Adjusted earnings per share were 119.9 pence, compared to 170.5 pence a year ago.
Revenue for the year declined 6 percent to 574 million pounds from last year's 611.5 million pounds. Revenues decreased 7 percent at constant exchange rates.
The company noted that revenue growth in the Americas and EMEA regions were offset by weakness in the APAC region.
Further, the company said a final dividend of 46.0p net per share will be paid on October 31, to shareholders on the register at September 27. This gives a total dividend of 60.0p for the year, same as last year.
Looking ahead, the company expects market conditions to remain difficult throughout this financial year with the ongoing uncertainty surrounding Brexit, weaker economic indicators, exchange rate volatility and trade tensions between the USA and China.
In London, Renishaw shares were trading at 3,677.19 pence, down 4.59 percent.
Copyright RTT News/dpa-AFX