Renishaw PLC (LSE:RSW) marked its 50th anniversary as it posted delayed final results today, but with no update on whether co-founders David McMurtry and John Deer, who own a combined 53% stake, plan to renew their effort to find a buyer.
Shares were little moved at 3,690p, as the precision engineer had already confirmed last week that its results would be in line with expectations; though no reason was given for the delay, perhaps it was to allow executive chairman McMurtry time to pen his lengthy anniversary statement.
It has been around two and a half years since the company was put up for sale by the pair, who decided to sell their shares and retire from their roles, with Deer's being that of non-executive deputy chairman.
However, no suitable offers were forthcoming and the process was called off in July 2021.
The statement was used to underscore the company's core values - "innovation, inspiration, integrity and involvement" - but brought no new news on plans for the owners' stake, only that feedback from the City had led to the board reviewing its approach to investor relations, "and we will be looking at how we can increase engagement with investors over the next year".
The dividend was upped 5% as a final dividend of 59.4p was declared.
On outlook, the group reported a "steady" start to the year and a "solid" order book – with continuing demand from markets such as EVs, defence and robotics, but continuing weakness in semiconductor markets.
Renishaw said it is managing cost prudently and pushing through some further price rises to offset inflation.
Analysts at UBS noted that the reason for the delay "appears benign", noting that an auditor's report was only signed on Monday.