Britain’s Renishaw cuts annual profit forecast again

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(Reuters) – British engineering group Renishaw Plc on Tuesday cut its full-year profit forecast for the second time this year, citing lower customer orders that hit sales in the first nine months of the fiscal year.

The company, whose revenue from continuing operations rose 0.3% for the nine months ended March 31, now expects annual adjusted profit before tax between 105 million pounds ($135.99 million) and 120 million pounds.

Renishaw had in March cut its profit forecast to between 117 million pounds and 135 million pounds.

Reporting by Pushkala Aripaka in Bengaluru; Editing by Shounak Dasgupta

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