Gloucestershire engineering giant Renishaw is showing strong recovery from the worst effects of the Covid-19 pandemic, with the firm reporting record revenue for the last six months of 2021.
The Wotton-under-Edge-headquartered business, which employs an estimated 2,200 staff in Gloucestershire, said income for the last six months of last year reached £325.2 million, up almost £100 million on the last six months of 2020.
Adjusted profit before tax was up 94 per cent to £84.2 million for the same period.
Sir David McMurtry, Renishaw executive chairman, said: ‘We achieved very strong revenue growth in all regions and there was growth for all product lines within our manufacturing technologies segment, most notably for the encoder and gauging lines.’
McMurtry said strong demand was being driven by ‘increased investments in industrial automation’ and ‘a recovery in metal cutting operations and increased investments in shopfloor metrology’.
Notable increases in demand had come from America, Europe, the Middle East and Africa, all of which had created jobs at the firm – with staff numbers reaching 4,975 by the end of December 2021 compared to 4,664 at the end of June 2021 and 4,324 at the end of December 2020.
In January 2022, Renishaw – which is currently supporting the SoGlos Gloucestershire Apprenticeship campaign ahead of next week’s National Apprenticeship Week – also launched a drive to recruit 80 apprentices and 96 graduates in 2022.
The positive numbers follow on from its previous full-year report, delivered in October 2021, which showed profits up by 146 per cent to £119.7m and revenue up by 11 per cent to £565.6 million.
For more information, visit Renishaw.com.
By Andrew Merrell