Engineering technology business Renishaw has seen revenue fall by almost £30 million for the first quarter of 2020.
For the three months to the end of September, revenue at the Gloucester company has dropped to £124.6 million - compared to £154 million for the comparative period last year.
Renishaw's metrology business saw revenue fall to £119.7 million from £147.7 million while its healthcare business also experienced a decline - from £6.6 million to £4.9 million.
Pre-tax profits for the quarter went in the same direction falling from £32.6 million to just £4.3 million.
The unscheduled profit warning comes just a month after the business announced it will close its North Staffordshire factory , in Stone, at the end of 2019 - with a potential loss of up to 120 jobs.
The company wants to relocate its additive manufacturing (AM) business, marketing and commercial activities to its New Mills headquarters site in Gloucestershire.
In a statement to the London Stock Exchange, Renishaw noted that it took a £2 million hit following the decision to close the facility in Stone.
Renishaw chief executive William Lee added: "As indicated at the time of our full year results in July, trading conditions are expected to remain challenging through the remainder of this financial year driven by the global macroeconomic environment.
"The group is in a strong financial position and remains committed to our long-term strategy of delivering growth through the development and introduction of innovative and patented products. However, as previously indicated, we are focussed on improving productivity and we are committed to undertaking further initiatives to reduce the group's cost base."
