LONDON (ShareCast) - Renishaw added ground midweek as the engineer reported a record set of full year results, with business in the Far East and Europe going especially well.

Profit before tax for the year ended 30 June, excluding pension curtailment credits, jumped 28% to £41.7m on revenue up 11% to £201.2m. Pre-tax profit fell to £43.1m from £52.1m in 2007.

“We have experienced growth across all geographical markets, in particular the Far East and Europe and there was significant progress in our laser calibration, machine tool and encoder product lines,” said the firm.

“We start the current year with a record order book and, although historically this order book provides little longer-term visibility, it is clear that many of our customers who traditionally have much longer lead-times than ourselves are still very buoyant,” it added.

The final dividend of 17.63p per share makes a total of 25.39p for the year, an 11% increase on last time.

• News Channel