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Manufacturing technologies services company Renishaw reported a jump in first-half profit as a 'record' level of demand underpinned revenue.
For the six months to 31 December 2021, pre-tax profit rose to £81.5 million from £63.9 million year-on-year as revenue increased to £325.2 million from £255.1 million.
In the first half, the company saw 'record' level of demand as key market sectors recover and semiconductor and electronics remain strong.
The interim dividend was raised to 16.0 pence per share from 14 pence per share a year earlier.
'The strong demand for our encoder product lines continues to be driven by increased investments in industrial automation and the semiconductor and electronics capital equipment markets, while our gauging line is benefiting from a recovery in metal cutting operations and increased investments in shopfloor metrology,' the company said.