October 15, 2019 / 6:45 AM / a month ago

Engineering firm Renishaw first-quarter profit tanks 85%

Oct 15 (Reuters) - British engineering group Renishaw Plc said on Tuesday its first-quarter profit plummeted 85%, dented by a slump in demand for its precision measurement equipment and ongoing global trade disputes.

Statutory profit before tax for the three months ended Sept. 30 came in at 5.1 million pounds ($6.47 million) compared with 33.5 million pounds a year ago, the company said, with revenue in its biggest unit falling nearly 19%.

$1 = 0.7885 pounds Reporting by Pushkala Aripaka in Bengaluru, Editing by Sherry Jacob-Phillips

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