Renishaw PLC (LON:RSW) saw its shares slip on Thursday after the high-precision metrology and healthcare technology group reported a slip in first-quarter profit and flagged up Brexit impact uncertainties.
In a trading update for the three months ended 30th September 2018, the FTSE 250-listed firm said its adjusted pre-tax profit from continuing operations for the first quarter fell to £32.6mln, down from £35.8mln last year, with statutory pre-tax profit at £33.5mln, down from £36.9mln.
READ: Renishaw reports positive start to final quarter, sees higher full-year profits
The group said its first-quarter revenue from continuing operations grew by 8% to £154.0mln, up from £142.3mln a year earlier, ahead 7% at constant exchange rates, with growth in all regions.
The company added that its balance sheet remains strong with net cash balances of £115.3mln as at 30 September 2018 compared to £103.8mln at 30 June 2018.
Looking ahead, Renishaw said: “Despite the potential impacts of Brexit and economic uncertainties in Asia the Board remains confident in the future prospects of the Group and of growth in both revenue and profit in this financial year.”
The firm said it will release its interim results on 31 January 2019.
In mid-morning trading, Renishaw shares were 0.5p lower at 4,275.50p.