Engineering company Renishaw yesterday reported a 65 per cent fall in first-half profit after its China division failed to better its last year's stellar performance. Pre-tax profit fell to £25.6m in the six months to the end of December from a restated £42.2m a year earlier. However, the company said it was expecting an improvement in trading activities and revenue in the second half. Total revenue fell six per cent to £164m while revenue from the Far East division fell 25 per cent to £59.1m. The FTSE -250 company's shares rose over four per cent.
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