If you'd invested in: Renishaw and GlaxoSmithKline
Measuring-equipment maker Renishaw has seen profits leap, but investors are sceptical about the prospects for drugmaker GSK.
If only...
Renishaw (LSE:RSW) develops and sells high-technology precision measuring and calibration equipment. Over the past 12 months, it almost doubled its market value as results continue to impress. Revenues jumped 17% to £279.5m, while adjusted pre-tax profit leapt 72% higher to £62.3m. It now expects full-year revenues to cross the £600m mark for the first time. However, the shares slipped back in January when David McMurtry the firm's founder, largest shareholder, chairman and chief executive announced he was stepping down as chief executive.
Be glad you didn't
GlaxoSmithKline (LSE:GSK) is Britain's biggest drugmaker. Last July the company said it would offload more than 130 of its non-core brands as it extended a restructuring programme meant to deliver £1bn in annual cost savings by 2020. In October, the chief executive, Emma Walmsley who took over last April announced a 4% rise in third-quarter sales to £7.8bn, helped by demand for new HIV, lung and meningitis products. Operating profit rose 31% to £1.9bn. But investors remain sceptical about the sustainability of the firm's dividend and the shares slid further.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Alice grew up in Stockholm and studied at the University of the Arts London, where she gained a first-class BA in Journalism. She has written for several publications in Stockholm and London, and joined MoneyWeek in 2017.
-
-
Act now: First Direct’s £175 switching bonus ending soon
First Direct has launched a £12,500 prize draw on top of its £175 cash bonus - but they both finish soon, so you’ll need to be quick
By Vaishali Varu Published
-
Credit card providers slash 0% balance transfer deals
Customers face a double whammy of rising interest rates and shorter 0% balance transfer periods. We look at what’s going on in the credit card market and why you’ll need to act fast to get the top 0% balance transfer deal
By Ruth Emery Published
-
Are GSK’s legal troubles a threat to the firm’s survival?
Analysis Pharmaceutical giant GlaxoSmithKline is facing legal action over heartburn drug Zantac that has seen billions wiped off its market value. Rupert Hargreaves looks at how it might affect the business's prospects.
By Rupert Hargreaves Published
-
GlaxoSmithKline’s first-quarter figures show the company is on track for the year
Analysis Latest results show that it's business as usual for pharmaceutical giant GlaxoSmithKline. Rupert Hargreaves casts his eyes over the numbers.
By Rupert Hargreaves Published
-
Why GSK should turn down Unilever’s billions
News Unilever has offered GSK £50bn for its consumer division. But while the cash will be a temptation, the deal is not in the interests of shareholders or of anyone else, says Matthew Lynn.
By Matthew Lynn Published
-
Unilever slides and GSK bounces after GSK knocks back £50bn bid
News Unilever shares fell to their lowest level in around five years, after its £50bn takeover bid for GSK’s consumer health unit was rejected.
By Saloni Sardana Published
-
Shake-up at GSK won’t placate investors
News GSK has launched a radical shakeup of its operations, but that's unlikely to satisfy investors unhappy with the drugmaker's perennial underperformance.
By Dr Matthew Partridge Published
-
A show of support for GlaxoSmithKline's hedge fund fight
News Several large shareholders have said that they will support GlaxoSmithKline in its battle with hedge fund Elliott Management.
By Dr Matthew Partridge Last updated
-
Activist investor Elliott takes takes a stake in Glaxo
News Elliott, s US hedge fund, took an undisclosed multibillion-pound stake in GSK last week, driving the share price up by 4.6%.
By Dr Matthew Partridge Last updated
-
Profit from Renishaw’s precision
Features Few people have heard of Renishaw, but its products and prospects are excellent, says Mike Tubbs.
By Dr Mike Tubbs Published