Record revenue for major Gloucestershire engineering firm

Engineering giant Renishaw, a Gloucestershire firm started in a back bedroom, has announced a record turnover of £671.1 million.

By Andrew Merrell  |  Published
If proof were needed just how diverse the sectors are into which Renishaw's expertise feeds, in August 2022 it was flagging its part in making a new track bike for the Great British Cycling Team (GBCT).

After a challenging time during the worst of the Covid-19 pandemic, Gloucestershire success story and UK engineering giant Renishaw is continuing to grow - delivering a record turnover.

The Wotton-under-Edge firm has just announced an income of £671.1 million for the 12 months ending 30 June 2022, 19 per cent higher than the year before.

Adjusted profit before tax also reached record levels – an increase of 37 per cent, to £163.7 million.

Sir David McMurtry, executive chairman and co-founder of the innovative engineering business, which employs an estimated 2,200 staff in Gloucestershire, said: ‘Our performance has been built on years of strategic focus.

‘We’ve developed the innovative products required to meet the challenges faced by manufacturers in growing markets, while ensuring that we have the global infrastructure and skilled people to deliver those opportunities.’

Its annual results, released to the London Stock Exchange on Thursday 15 September 2022, reveal a catalogue of triumphs, from a 20 per cent increase in sales of manufacturing technologies to £634.6 million, to a record sale of its encoders and rising sales of its gauging and machine tool products.

All of which follows on from the firm's February 2022 report of a positive six months of record trading and news it had created 80 new apprenticeship positions. In July 2022, a team featuring Renishaw apprentices won the People’s Prize at the Engineers without Borders event.

More on Renishaw

More from Business