Renishaw PLC
11 June 2007
Renishaw plc
Trading statement
11th June 2007
The Board of Renishaw has noted the recent movement in the Company's share
price, which it believes to have been precipitated by the publication of an
analyst's report on the Company and its prospects for the 2008 financial year
(the year ending 30th June 2008).
In the view of the Board, the note does not raise any matters which were not
already in the public domain. As the Company has previously indicated, there are
a number of factors which will, inter alia, have a bearing on the Company's
financial performance in 2008 including the effect of exchange rates (in
particular the US Dollar and the Japanese Yen) and the level of demand for the
Company's products in the CMM market, with some development delays in delivering
certain of the Company's new and in-demand products, in particular REVO and
GYRO, being experienced. In addition, the Company awaits the outcome of the
ruling expected on 25th June 2007 in relation to the case being brought by the
Japanese government in relation to the export activities of one of the Group's
customers, which, if negative, may also be expected to have an adverse effect on
the Group's sales to that company in our 2008 financial year.
The Board is currently reviewing the outlook for the 2008 financial year as part
of its normal year end process. The Company expects to provide an update in
relation to the outlook for 2008 along with the publication of its results for
the 2007 financial year on 25th July 2007.
Sir David R McMurtry, CBE, RDI, CEng, FIMechE, FREng
Chairman & Chief Executive
11th June 2007
Enquiries: B R Taylor 01453 524018
Registered number: 1106260
Registered office: New Mills, Wotton-under-Edge,
Gloucestershire. GL12 8JR
Telephone: 01453 524524
This information is provided by RNS
The company news service from the London Stock Exchange
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