9th Sep 2014 06:47
LONDON (Alliance News) - Oxford Instruments PLC said it expects a "more pronounced" second half weighting than usual, as good order intake in its first half underpins its revenue projections for the rest of the year, in a statement ahead of its annual general meeting Tuesday.
The technology tools and systems company said orders in the year to date continue to be ahead of the previous year at both actual and constant currencies.
In addition to growth generated from its acquisition of Andor Technology PLC for GBP158.1 million in January, it saw order growth in North America and Europe in both its nanotechnology tools and industrial products.
However, the company said Asian markets have been more difficult, as growth in industrial products is being offset by a decline in nanotechnology tools. This decline is particularly prominent in Japan, where the company said it was detecting a "shift in government spending favouring infrastructure over research and development in the current year".
The integration of Andor has been successful, the company said, and Andor is performing well with orders ahead of expectations. This, combined with recovery in US markets, has continued to offset currency pressure from the strength of sterling.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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