UK's Renishaw soars on deciding to shut loss-making drug delivery unit

Renishaw

08/05/2025 09:21

** British engineering firm Renishaw RSW.L jumps as much as 12.9% to 2,580p; top gainer on FTSE mid-cap index .FTMC, which is up 0.5%

** Stock set for biggest one-day pct gain since February 2024

** Co will shut down loss-making drug delivery operations, introduce surcharge to pass on additional costs brought on by U.S. tariffs

** Jefferies says, "There has been a proactive portfolio management decision to close the loss-making drug delivery part of its Neurological business, and pursue sale of rest of the Neurological"

** However, co narrows FY25 sales, profit outlook

** YTD, RSW falls 24.1%

 (Reporting by DhanushVignesh Babu in Bengaluru)

 ((DhanushVignesh.Babu@thomsonreuters.com;))