Engineering

Renishaw issues second 2019 profit warning

A Renishaw machine
Renishaw

UK engineering group Renishaw has issued its second profit warning in two months, after lower customer orders hit sales.

It announced a fall in profits for the last nine months of 18.4%, down from £97.6m to £79.6m.

It said: "Adjusted profit before tax is now expected to be in the range of £105m to £120m."

In March it cut its profit forecast to between £111m to £135m.

"We continue to focus on increasing productivity and on-going investment in the business for the long term."

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