Renishaw record

SHARES in engineer Renishaw soared yesterday after the company reported record revenues of £494.7m and record pretax profits of £144.2m, an increase of just over 100pc on last year.

The company, based in Wottonunder-Edge, also won its 18th Queen’s Award, for its RESolUTE absolute position encoder.

The shares, which are up 12pc over the past 12 months, gained 136p to 2100p. The dividend rose 13pc to 46.5p a share.

Sir David McMurtry, the chairman, said that, at this early stage, he anticipates profit for this year will be in the range of £85m to £105m.