July 17 (Reuters) - Renishaw Plc RSW.L downgraded its annual statutory pretax profit forecast on Friday due to restructuring charges, though the British engineering group raised revenue estimates to 510 million pounds ($640.20 million), sending its shares higher.
The company, which cancelled its dividend last month, said annual statutory pretax profit was expected to come in at 4 million pounds, compared with an earlier forecast of 31 million-41 million pounds.
Revenue was previously expected at the range of 490 million punds to 505 million pounds.
Shares rose 2.3% after the company raised its revenue forecast, hitting their highest level since Feb. 2019.
($1 = 0.7966 pounds)
(Reporting by Yadarisa Shabong in Bengaluru, Editing by Sherry Jacob-Phillips)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.