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Metrology and healthcare technology group Renishaw downgraded its annual guidance after its profit for the first nine months of its financial year fell 19%.
Pre-tax profit for the nine months through March dropped to £84.8m, down from £104.4m on-year, the company said.
Revenue inched up 0.3% to £431.1m, with a fall at its metrology offset by a rise in healthcare sales.
Renishaw said it now expected full-year revenue to be in the range of £580m to £600m, down from previous guidance of £635m to £665m.
Pre-tax profit was now seen in the range of £111m to £126m, down from previous guidance of £146m to £166m.
'We continue to focus on increasing productivity and on-going investment in the business for the long term,' the company said.