* Pretax profit falls 9 pct in third quarter
* Third-quarter revenue rises 3 pct
* Shares decline nearly 5 pct
May 14 British precision engineer Renishaw Plc
said third-quarter pretax profit fell 9 percent, hurt by
a strong pound and a decline in healthcare product sales.
Shares in the FTSE-250 component fell nearly 5 percent in
early trade on Wednesday, making it one of the top percentage
losers on the London Stock Exchange.
The company said adjusted pretax profit fell to 14.4 million
pounds, and would have been 2.2 million pounds higher at the
exchange rate during the corresponding period last year.
Revenue for the period ended March 31 rose 3 percent to 84.5
million pounds, which the company said would have been 4.7
million pounds higher at the previous year's sterling to dollar
The pound has jumped almost 10 percent against the
U.S. dollar in the year to March 31, 2014.
The Gloucestershire-based firm generates about 90 percent of
its revenue from outside the UK.
Renishaw's healthcare offerings, which account for about 10
percent of total revenue, include Raman spectroscopy systems,
dental systems, molecular diagnostic equipment and neurosurgical
The manufacturer of precision metrology and inspection
equipment however said it remained confident of the long-term
prospects of the group with continued investments in production
systems and processes.
Renishaw told Reuters earlier in the year that it was
witnessing a strong demand for its additive manufacturing
The worldwide market for 3D printing rose 34.9 percent - its
highest growth rate in 17 years - to $3.07 billion last year,
according to a recent report by Wohlers Associates, an additive
manufacturing consulting firm. (link.reuters.com/feq39v)
Shares in the company were trading down 4 percent at 1765
pence at 0755 GMT.
(Reporting by Aashika Jain in Bangalore; Editing by Sunil Nair)