Last month, an underwhelming set of full-year numbers cast a shadow over what should have been a banner year for Renishaw (RSW).
Tip style
Growth
Risk rating
Medium
Timescale
Medium Term
Bull points
- A true UK innovator
- Well-placed for chip market recovery
- Shares trade at a discount
- A growth strategy
Bear points
- Labour costs have soared
- Governance grumblings
- Elevated capex spending
The company celebrates its 50th birthday this year, and executive chairman Sir David McMurtry reminisced in his results commentary about how he and co-founder John Deer started out in the latter’s house, using underlay from McMurtry’s carpets as dust seals.