Renishaw reports record results amid AI chip demand surge

Renishaw, the British precision engineering company most people outside manufacturing have never heard of, just posted the kind of numbers that make investors forget it’s not a software firm. Revenue for the fiscal year ending June 30, 2026 climbed 14% to £815.8 million, while adjusted profit before tax surged 32% to £168.0 million. The company makes the ultra-precise measurement and calibration tools that chip fabrication equipment depends on. The numbers behind the AI tailwind On a constant currency basis, revenue growth was even stronger at 17%, stripping out the drag from foreign exchange fluctuations. Adjusted operating margin expanded meaningfully, jumping to 18.7% from 15.7% the prior year. Statutory profit before tax came in at £150.0 million, a 27% increase. The real star was the Position Measurement segment, which makes the precision encoders essential for semiconductor manufacturing equipment. That division posted revenue of £260.9 million, up 26% year on year, with adjusted operating profit leaping 53% to £71.5 million. Its margin hit 27.4%. CEO Will Lee pointed to escalating demand for AI processing as the primary catalyst. The insatiable appetite for more advanced chi...