Listed engineering firm Renishaw says it has experienced a "steady start" to the new financial year amid continued global uncertainty.
The Gloucestershire-based manufacturer reported constant currency revenue growth of 2.8% for the three months to the end of September and a boosted order book.
In a set of unaudited results, announced on Thursday (October 23), the Wotton-under-Edge-headquartered business said it had received a "positive reception" to the launches of important new industrial metrology products.
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It added that its previously announced £20m operating cost-reduction programme was also now being implemented.
"There has been a steady start to FY2026, in line with our expectations," Renishaw said in a statement to investors.
"Despite the continued global uncertainty, the structural drivers that underpin our markets are presenting growth opportunities across our businesses and at this stage we are expecting to achieve further steady revenue growth in the year ahead."
Renishaw said market conditions around the world "remain mixed". In the Americas the company delivered 11.2% year-on-year revenue growth at constant currency in the first quarter, as well as a strengthening its order book.
In the Asia Pacific region, the business achieved 14.7% revenue growth, but constant currency sales in EMEA were 20.5% lower in Q1 than in the corresponding period last year.
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"We continue to see weak demand for IM sensors from machine tool builders, whilst sales of laser encoders for wafer inspection applications were also lower than last year," the company explained.
"Q1 sales were also affected by the planned implementation of a new sales ERP system in some EMEA territories during September, with this expected to be recovered during Q2."
Last month, Renishaw announced the appointment of a new group HR director following a rise in profits for the previous financial year. Clare Nicholls joined the business from TT Electronics, where she was executive vice president of human resources.
The precision engineering company posted record revenues for the financial year ended June 30, 2025, to £713m - up from £691.3m a year earlier. Operating profit also jumped to £112.3m for the year, from £108.7m the year before.