Renishaw PLC on Thursday said its order intake has improved recently, as it reported a slight increase in interim revenue and pretax profit.

The Gloucestershire, England-based provider of manufacturing technologies, analytical instruments, and medical devices said pretax profit rose 1.8% to £57.5 million in the six months to December 31, from £56.5 million a year prior.

Revenue climbed 3.3% to £341.4 million from £330.5 million.

The company declared an interim dividend of 16.8 pence per share, unchanged from a year ago.

For the current financial year ending on June 30, Renishaw expects an adjusted pretax profit between £105 million and £135 million, compared to £122.6 million in financial 2024.

Revenue is anticipated to climb at least 0.5% to between £695 million and £735 million, from £691.3 million in financial 2024.

The company noted that costs arising from the UK government’s budget, under which national insurance contributions will increase for many employers starting in April, need to be considered in its recruitment plants. Renishaw expects a labour cost increase of £1 million in financial 2025, as well as an additional £4 million to annual costs.

Chief Executive Officer Will Lee said: ‘We have continued to make steady progress in mixed trading conditions and our order intake has recently improved, particularly from the semiconductor manufacturing and consumer electronics sectors. Supported by our strategic progress, we expect to achieve steady revenue growth this year. Our markets present significant structural growth opportunities, and we are confident that the investment that we are currently making in productivity improvements will drive our operating margins towards our 20% target in the medium term.’

Renishaw shares fell 6.3% to 3,353.20 pence each on Thursday morning in London.

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