Engineering giant Renishaw has reported a 10% drop in profits amid continued “subdued” demand for its semiconductor and consumer electronics products.
The FTSE 250 firm, which is based at Wotton-under-Edge in Gloucestershire, reported adjusted profit before tax in the nine months to March stood at £111.8m, compared to £124m a year earlier.
That was despite the firm seeing revenue rise to £522m, up by around £30m on figures recorded for the same period during its 2022 financial year.
